Internap (NASDAQ:INAP) was upgraded by equities research analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a report issued on Thursday, March 21st, Marketbeat Ratings reports. The firm presently has a $8.00 target price on the information technology services provider’s stock. Wells Fargo & Co‘s price objective would indicate a potential upside of 70.58% from the stock’s current price.
Several other brokerages have also commented on INAP. Zacks Investment Research lowered shares of Internap from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Jefferies Financial Group began coverage on shares of Internap in a report on Monday, December 10th. They issued a “buy” rating and a $7.50 price objective on the stock. Raymond James decreased their price objective on shares of Internap from $22.00 to $15.00 and set a “strong-buy” rating on the stock in a report on Friday, March 15th. ValuEngine upgraded shares of Internap from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Finally, Craig Hallum decreased their price objective on shares of Internap from $16.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.42.
NASDAQ:INAP traded down $0.14 on Thursday, hitting $4.69. The stock had a trading volume of 407,800 shares, compared to its average volume of 335,525. The company has a debt-to-equity ratio of 11,888.77, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $121.16 million, a price-to-earnings ratio of -1.56 and a beta of 2.89. Internap has a 1-year low of $3.86 and a 1-year high of $15.31.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. increased its stake in Internap by 67.9% during the 4th quarter. Citigroup Inc. now owns 10,171 shares of the information technology services provider’s stock worth $42,000 after buying an additional 4,115 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Internap during the 4th quarter worth approximately $47,000. MetLife Investment Advisors LLC purchased a new stake in Internap during the 3rd quarter worth approximately $191,000. American International Group Inc. increased its stake in Internap by 19.8% during the 4th quarter. American International Group Inc. now owns 15,961 shares of the information technology services provider’s stock worth $66,000 after buying an additional 2,639 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Internap during the 3rd quarter worth approximately $202,000. 88.02% of the stock is currently owned by hedge funds and other institutional investors.
Internap Company Profile
Internap Corporation provides data center infrastructure, cloud solutions, and network services in the United States, Canada, and internationally. It operates through two business segments, INAP US and INAP INTL. The company offers conditioned power with back-up capacity and physical space within data centers with related services, such as interconnection, remote hands, environmental controls, monitoring, and security; and bare metal, private and managed third party cloud, Disaster Recovery-as-a-Service, cloud backup, and managed storage and security services, as well as multi-cloud solutions.
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