Internap Network Services Corp. (INAP) Shares Up 3.1%
Shares of Internap Network Services Corp. (NASDAQ:INAP) shot up 3.1% during trading on Friday . The company traded as high as $2.33 and last traded at $2.32, with a volume of 109,465 shares trading hands. The stock had previously closed at $2.25.
A number of brokerages recently commented on INAP. Zacks Investment Research raised Internap Network Services Corp. from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research report on Wednesday, May 11th. Drexel Hamilton reaffirmed a “buy” rating on shares of Internap Network Services Corp. in a research report on Monday, June 6th. Benchmark Co. boosted their target price on 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. Finally, Craig Hallum raised Internap Network Services Corp. from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $6.11.
The firm’s market cap is $119.74 million. The firm has a 50-day moving average price of $2.27 and a 200 day moving average price of $2.46.
Internap Network Services Corp. (NASDAQ:INAP) last posted its 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 firm 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) EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. Analysts forecast that Internap Network Services Corp. will post ($0.49) earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Internap Network Services Corp. stock. Coe Capital Management LLC bought a new position in Internap Network Services Corp. (NASDAQ:INAP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 186,500 shares of the company’s stock, valued at approximately $1,194,000. Coe Capital Management LLC owned approximately 0.36% of Internap Network Services Corp. at the end of the most recent quarter.
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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