Internap (INAP) Rating Lowered to Sell at BidaskClub

Internap (NASDAQ:INAP) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other brokerages have also recently commented on INAP. ValuEngine cut shares of Internap from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research upgraded shares of Internap from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, October 4th. Finally, Benchmark reiterated a “buy” rating and issued a $24.00 price objective (up from $20.00) on shares of Internap in a research report on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $23.25.

Shares of Internap (NASDAQ:INAP) traded up $0.14 during trading on Thursday, hitting $14.20. 283,837 shares of the stock were exchanged, compared to its average volume of 290,583. Internap has a fifty-two week low of $3.20 and a fifty-two 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 (NASDAQ:INAP) last announced its earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.16). The business had revenue of $68.91 million during the quarter, compared to analyst estimates of $69.10 million. Internap had a negative net margin of 18.09% and a negative return on equity of 282.42%. The business’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($7.00) earnings per share. equities research analysts expect that Internap will post -2.44 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of INAP. Morgan Stanley boosted its position in shares of Internap by 91.3% during the 1st quarter. Morgan Stanley now owns 370,816 shares of the information technology services provider’s stock worth $1,380,000 after purchasing an additional 176,932 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Internap by 314.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 213,186 shares of the information technology services provider’s stock worth $783,000 after purchasing an additional 161,694 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Internap by 162.2% during the 1st quarter. Vanguard Group Inc. now owns 2,715,665 shares of the information technology services provider’s stock worth $10,102,000 after purchasing an additional 1,680,128 shares in the last quarter. EAM Investors LLC boosted its position in shares of Internap by 182.9% during the 3rd quarter. EAM Investors LLC now owns 1,161,840 shares of the information technology services provider’s stock worth $5,054,000 after purchasing an additional 751,131 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Internap by 197.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 475,932 shares of the information technology services provider’s stock worth $1,747,000 after purchasing an additional 315,674 shares in the last quarter.

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About Internap

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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