Internap Network Services Corp. (INAP) Stock Price Down 2.2%
Shares of Internap Network Services Corp. (NASDAQ:INAP) fell 2.2% during trading on Monday . The stock traded as low as $2.16 and last traded at $2.25, with a volume of 95,170 shares changing hands. The stock had previously closed at $2.30.
Several research firms have recently commented on INAP. Benchmark Co. increased their price target 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. Drexel Hamilton set a $5.00 price target on shares of Internap Network Services Corp. and gave the company a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research upgraded 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. Finally, Craig Hallum upgraded 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus 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 $2.43. The company’s market cap is $117.14 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. During the same quarter in the previous year, the business posted ($0.20) earnings per share. The business earned $74.30 million during the quarter, compared to analysts’ expectations of $76.61 million. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts expect that Internap Network Services Corp. will post ($0.49) EPS for the current year.
An institutional investor recently raised its position in Internap Network Services Corp. stock. Schwab Charles Investment Management Inc. increased its stake in Internap Network Services Corp. (NASDAQ:INAP) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,919 shares of the company’s stock after buying an additional 4,918 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.41% of Internap Network Services Corp. worth $1,363,000 at the end of the most recent reporting period.
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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