Analysts Anticipate Internap Corp (INAP) Will Announce Quarterly Sales of $78.51 Million

Wall Street analysts forecast that Internap Corp (NASDAQ:INAP) will post $78.51 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Internap’s earnings, with the lowest sales estimate coming in at $76.98 million and the highest estimate coming in at $84.13 million. Internap reported sales of $74.20 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.8%. The business is expected to report its next earnings report on Thursday, May 2nd.

According to Zacks, analysts expect that Internap will report full-year sales of $320.58 million for the current financial year, with estimates ranging from $318.50 million to $321.71 million. For the next financial year, analysts expect that the business will post sales of $337.98 million, with estimates ranging from $334.70 million to $340.95 million. Zacks’ sales averages are an average based on a survey of analysts that follow Internap.

Internap (NASDAQ:INAP) last announced its earnings results on Thursday, March 14th. The information technology services provider reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.31). The firm had revenue of $78.20 million during the quarter, compared to analysts’ expectations of $82.52 million. During the same quarter in the previous year, the firm earned ($0.35) EPS. The firm’s revenue was up 11.7% on a year-over-year basis.

Several equities analysts recently commented on INAP shares. Craig Hallum dropped their price objective on Internap from $16.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, December 19th. They noted that the move was a valuation call. Jefferies Financial Group started coverage on Internap in a research note on Monday, December 10th. They issued a “buy” rating and a $7.50 price objective on the stock. ValuEngine upgraded Internap from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research upgraded Internap from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Finally, Wells Fargo & Co upgraded Internap from a “market perform” rating to an “outperform” rating and set a $8.00 price objective on the stock in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.42.

A number of institutional investors have recently bought and sold shares of the stock. Citigroup Inc. raised its holdings in Internap by 67.9% during the 4th quarter. Citigroup Inc. now owns 10,171 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 4,115 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Internap during the 4th quarter valued at $47,000. American International Group Inc. raised its holdings 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 valued at $66,000 after acquiring an additional 2,639 shares during the period. Squarepoint Ops LLC bought a new stake in Internap during the 4th quarter valued at $72,000. Finally, Barclays PLC raised its holdings in Internap by 35.6% during the 4th quarter. Barclays PLC now owns 18,145 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 4,764 shares during the period. Institutional investors and hedge funds own 88.02% of the company’s stock.

Internap stock traded up $0.11 during trading on Wednesday, hitting $5.07. The stock had a trading volume of 212,662 shares, compared to its average volume of 344,007. Internap has a 1 year low of $3.86 and a 1 year high of $15.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 11,888.77. The company has a market cap of $125.98 million, a price-to-earnings ratio of -1.68 and a beta of 2.89.

Internap Company Profile

Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.

Read More: What are the components of an earnings report?

Get a free copy of the Zacks research report on Internap (INAP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Internap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Internap and related companies with MarketBeat.com's FREE daily email newsletter.