Internap Network Services Corp. (INAP) Shares Up 3.2%
Internap Network Services Corp. (NASDAQ:INAP)’s share price shot up 3.2% during trading on Friday . The stock traded as high as $2.24 and last traded at $2.23, with a volume of 113,371 shares trading hands. The stock had previously closed at $2.16.
Several brokerages recently commented on INAP. Zacks Investment Research downgraded shares of Internap Network Services Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. 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 note on Friday, May 6th. Drexel Hamilton reissued a “buy” rating on shares of Internap Network Services Corp. in a research note on Monday, June 6th. Finally, Craig Hallum raised shares of Internap Network Services Corp. from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research note on Monday, August 8th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $6.11.
The firm has a 50-day moving average price of $2.28 and a 200 day moving average price of $2.41. The stock’s market capitalization is $114.02 million.
Internap Network Services Corp. (NASDAQ:INAP) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by $0.02. The company had revenue of $74.30 million for the quarter, compared to the consensus estimate of $76.61 million. During the same period in the prior year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, analysts expect that Internap Network Services Corp. will post ($0.49) EPS for the current fiscal year.
Internap Corporation, formerly InterNAP Network Services Corporation, provides Internet infrastructure services. The Company operates through two segments: Data Center Services segment and Internet Protocol Services segment. It offers hybrid Internet infrastructure services, which enables customers to mix and match cloud, hosting and colocation for the combination of services.
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