Internap Network Services Corp. (INAP) Trading Down 5.3%
Internap Network Services Corp. (NASDAQ:INAP) shares were down 5.3% on Thursday . The company traded as low as $2.11 and last traded at $2.13, with a volume of 493,309 shares changing hands. The stock had previously closed at $2.25.
A number of research analysts recently weighed in on INAP shares. Benchmark Co. increased their price objective on shares of Internap Network Services Corp. from $5.00 to $5.50 and gave the company a “buy” rating in a research report on Friday, May 6th. Zacks Investment Research cut shares of Internap Network Services Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Drexel Hamilton reaffirmed a “buy” rating on shares of Internap Network Services Corp. in a report on Monday, June 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $6.64.
The stock’s market capitalization is $114.94 million. The stock has a 50 day moving average price of $2.33 and a 200 day moving average price of $2.64.
Internap Network Services Corp. (NASDAQ:INAP) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.11. The firm earned $75.92 million during the quarter, compared to analysts’ expectations of $77.18 million. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) EPS. Equities analysts anticipate that Internap Network Services Corp. will post ($0.43) EPS for the current year.
Internap Corporation, formerly InterNAP Network Services Corporation, provides Internet infrastructure services. The Company operates through two business segments: Data Center Services segment and Internet Protocol Services segment. Data Center Services segment includes colocation, hosting and cloud services.
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