Internap Network Services Corp. (INAP) Trading Down 2.2%
Internap Network Services Corp. (NASDAQ:INAP)’s share price dropped 2.2% during trading on Tuesday . The company traded as low as $2.18 and last traded at $2.20, with a volume of 982,742 shares. The stock had previously closed at $2.25.
INAP has been the topic of a number of recent research reports. Drexel Hamilton reaffirmed a “buy” rating on shares of Internap Network Services Corp. in a research report on Monday, June 6th. Zacks Investment Research raised shares of Internap Network Services Corp. from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research report on Wednesday, May 11th. Benchmark Co. raised their price target on shares of Internap Network Services Corp. from $5.00 to $5.50 and gave the stock a “buy” rating in a research report on Friday, May 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 target on the stock in a research report on Monday, August 8th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.11.
The firm’s 50 day moving average price is $2.27 and its 200-day moving average price is $2.39. The company’s market cap is $112.45 million.
Internap Network Services Corp. (NASDAQ:INAP) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ 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. The business’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Analysts anticipate that Internap Network Services Corp. will post ($0.49) earnings per share for the current 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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