Brokerages forecast that Internap Corporation (NASDAQ:INAP) will report ($0.56) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Internap’s earnings. Internap reported earnings per share of ($0.44) during the same quarter last year, which would indicate a negative year-over-year growth rate of 27.3%. The company is expected to issue its next quarterly earnings report on Thursday, March 8th.
Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Internap.
Internap (NASDAQ:INAP) last issued its earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.16). The business had revenue of $68.91 million for the quarter, compared to analyst estimates of $69.10 million. Internap had a negative return on equity of 282.42% and a negative net margin of 18.09%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the company posted ($7.00) earnings per share.
INAP has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Internap from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, October 4th. ValuEngine raised shares of Internap from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Benchmark reaffirmed a “buy” rating and issued a $24.00 price objective (up previously from $20.00) on shares of Internap in a report on Monday, September 25th. Finally, BidaskClub raised shares of Internap from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.25.
A number of institutional investors and hedge funds have recently made changes to their positions in INAP. KCG Holdings Inc. boosted its position in shares of Internap by 85.5% during the 1st quarter. KCG Holdings Inc. now owns 27,373 shares of the information technology services provider’s stock valued at $102,000 after purchasing an additional 12,620 shares in the last quarter. Gotham Asset Management LLC boosted its position in shares of Internap by 173.1% during the 2nd quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock valued at $103,000 after purchasing an additional 17,717 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of Internap during the 2nd quarter valued at about $133,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Internap during the 2nd quarter valued at about $158,000. Finally, Symphony Asset Management LLC bought a new position in shares of Internap during the 2nd quarter valued at about $159,000.
Shares of Internap (INAP) traded up $0.14 during trading hours on Friday, hitting $14.20. 283,837 shares of the company’s stock were exchanged, compared to its average volume of 290,583. Internap has a 52 week low of $3.20 and a 52 week high of $22.36. The company has a debt-to-equity ratio of 107.36, a quick ratio of 0.69 and a current ratio of 0.69.
Internap Company Profile
Internap Corporation is a technology provider of Internet infrastructure. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.
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