Internap Corp (NASDAQ:INAP) Receives $8.25 Average Price Target from Brokerages

Shares of Internap Corp (NASDAQ:INAP) have been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.25.

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Several brokerages have issued reports on INAP. Raymond James cut shares of Internap from a “strong-buy” rating to an “outperform” rating and set a $10.00 target price for the company. in a report on Wednesday, September 4th. Benchmark set a $8.00 target price on shares of Internap and gave the stock a “buy” rating in a report on Wednesday, August 7th. ValuEngine raised shares of Internap from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Internap from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th.

Institutional investors have recently modified their holdings of the business. Teton Advisors Inc. grew its stake in shares of Internap by 1.6% in the second quarter. Teton Advisors Inc. now owns 578,000 shares of the information technology services provider’s stock worth $1,740,000 after acquiring an additional 9,000 shares during the period. Invesco Ltd. grew its stake in shares of Internap by 51.3% in the second quarter. Invesco Ltd. now owns 426,204 shares of the information technology services provider’s stock worth $1,283,000 after acquiring an additional 144,457 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of Internap by 86.9% in the second quarter. Pinnacle Associates Ltd. now owns 168,807 shares of the information technology services provider’s stock worth $508,000 after acquiring an additional 78,495 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Internap in the second quarter worth approximately $322,000. Finally, Paloma Partners Management Co grew its stake in shares of Internap by 900.3% in the second quarter. Paloma Partners Management Co now owns 105,251 shares of the information technology services provider’s stock worth $317,000 after acquiring an additional 94,729 shares during the period. 63.60% of the stock is owned by institutional investors and hedge funds.

NASDAQ INAP traded down $0.09 during trading hours on Friday, reaching $1.30. 352,967 shares of the company’s stock traded hands, compared to its average volume of 327,013. Internap has a 52-week low of $1.27 and a 52-week high of $6.62. The firm has a market cap of $42.33 million, a PE ratio of -0.43 and a beta of 3.03. The firm has a 50-day simple moving average of $2.21 and a 200 day simple moving average of $2.61.

Internap (NASDAQ:INAP) last issued its quarterly earnings results on Tuesday, November 12th. The information technology services provider reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.35). The company had revenue of $72.88 million for the quarter, compared to the consensus estimate of $73.66 million. As a group, research analysts expect that Internap will post -3.02 earnings per share for the current fiscal year.

Internap Company Profile

Internap Corp. engages in the provision of information technology infrastructure services. It operates through the following segments: INAP US and INAP INTL. The INAP US segment consists of U. S. Colocation, U. S. Cloud, and U. S. Network services based in the United States. The INAP INTL segment consists of these same services based in countries other than the United States, and Ubersmith.

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Analyst Recommendations for Internap (NASDAQ:INAP)

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