Internap Network Services Corp. (INAP) Shares Down 2.2%
Internap Network Services Corp. (NASDAQ:INAP) dropped 2.2% on Tuesday . The company traded as low as $2.18 and last traded at $2.20, with a volume of 982,742 shares trading hands. The stock had previously closed at $2.25.
INAP has been the subject of a number of research reports. Benchmark Co. lifted their price objective on 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 set a $5.00 price objective on Internap Network Services Corp. and gave the company a “buy” rating in a research note on Friday, August 5th. Craig Hallum raised 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. Finally, Zacks Investment Research cut Internap Network Services Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Seven research analysts have rated the stock with 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 stock has a 50 day moving average price of $2.27 and a 200 day moving average price of $2.39. The firm’s market capitalization is $123.91 million.
Internap Network Services Corp. (NASDAQ:INAP) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by $0.02. During the same quarter last year, the firm posted ($0.20) EPS. The firm had revenue of $74.30 million for the quarter, compared to the consensus estimate of $76.61 million. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts predict that Internap Network Services Corp. will post ($0.49) earnings per share 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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