Internap Network Services Corp. (INAP) Shares Up 3%
Shares of Internap Network Services Corp. (NASDAQ:INAP) shot up 3% during mid-day trading on Friday . The company traded as high as $2.44 and last traded at $2.38, with a volume of 111,231 shares. The stock had previously closed at $2.31.
A number of brokerages have issued reports on INAP. Drexel Hamilton reaffirmed a “buy” rating on shares of Internap Network Services Corp. in a research note on Monday, June 6th. 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 note on Wednesday, May 11th. 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 note on Monday, August 8th. Finally, Benchmark Co. raised their target price on Internap Network Services Corp. from $5.00 to $5.50 and gave the stock a “buy” rating in a research note on Friday, May 6th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.11.
The stock’s market capitalization is $124.43 million. The company’s 50-day moving average price is $2.27 and its 200 day moving average price is $2.39.
Internap Network Services Corp. (NASDAQ:INAP) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. During the same period in the previous year, the company earned ($0.20) EPS. The business earned $74.30 million during the quarter, compared to the consensus estimate of $76.61 million. Internap Network Services Corp.’s revenue was down 7.6% compared to the same quarter last year. On average, equities analysts anticipate 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.