Internap (NASDAQ:INAP) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Internap (NASDAQ:INAP) from a sell rating to a hold rating in a report released on Thursday morning, ValuEngine reports.

A number of other analysts have also weighed in on the stock. Zacks Investment Research raised shares of Internap from a hold rating to a buy rating and set a $4.00 price target for the company in a report on Thursday, July 18th. SunTrust Banks reissued a buy rating and issued a $6.00 price target on shares of Internap in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $9.07.

Shares of Internap stock traded up $0.12 during midday trading on Thursday, reaching $2.96. The company had a trading volume of 226,808 shares, compared to its average volume of 348,313. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 11,888.77. The firm has a market cap of $79.12 million, a P/E ratio of -0.98 and a beta of 2.91. The company’s fifty day moving average is $3.06. Internap has a 1-year low of $2.29 and a 1-year high of $15.31.

Internap (NASDAQ:INAP) last issued its quarterly earnings results on Thursday, May 9th. The information technology services provider reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.26). The company had revenue of $73.60 million for the quarter, compared to analyst estimates of $77.03 million. Internap’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.70) earnings per share. Equities research analysts expect that Internap will post -2.1 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of Internap by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 79,001 shares of the information technology services provider’s stock valued at $328,000 after purchasing an additional 2,051 shares in the last quarter. American International Group Inc. boosted its stake in Internap by 19.8% in the fourth 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 last quarter. Rhumbline Advisers boosted its stake in Internap by 11.8% in the first quarter. Rhumbline Advisers now owns 30,245 shares of the information technology services provider’s stock valued at $150,000 after acquiring an additional 3,190 shares during the last quarter. Citigroup Inc. boosted its stake in Internap by 67.9% in the fourth 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 last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Internap by 781.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,123 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 4,542 shares during the last quarter. 71.76% of the stock is owned by institutional investors and hedge funds.

About Internap

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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