Wall Street brokerages expect Internap Corporation (NASDAQ:INAP) to report $68.93 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Internap Corporation’s earnings. The lowest sales estimate is $67.92 million and the highest is $70.20 million. Internap Corporation posted sales of $73.94 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.8%. The business is expected to report its next earnings results on Thursday, November 2nd.

On average, analysts expect that Internap Corporation will report full year sales of $68.93 million for the current fiscal year, with estimates ranging from $277.14 million to $282.00 million. For the next year, analysts anticipate that the firm will post sales of $279.81 million per share, with estimates ranging from $269.21 million to $293.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Internap Corporation.

Internap Corporation (NASDAQ:INAP) last released its earnings results on Thursday, August 3rd. The information technology services provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.01. The firm had revenue of $69.64 million during the quarter, compared to analyst estimates of $70.59 million. Internap Corporation had a negative net margin of 45.52% and a negative return on equity of 234.35%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) earnings per share.

Several equities research analysts have commented on INAP shares. BidaskClub upgraded Internap Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded Internap Corporation from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a research note on Tuesday, May 16th. Raymond James Financial, Inc. upgraded Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 price target for the company in a research note on Friday, August 4th. Finally, UBS AG upgraded Internap Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $5.31.

In other news, insider Park West Asset Management Llc sold 2,250,000 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $3.88, for a total value of $8,730,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 3,482,700 shares of company stock valued at $13,640,242. Insiders own 5.83% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Park West Asset Management LLC grew its stake in shares of Internap Corporation by 243.8% in the first quarter. Park West Asset Management LLC now owns 11,686,429 shares of the information technology services provider’s stock valued at $43,474,000 after buying an additional 8,287,292 shares in the last quarter. Avenir Corp grew its stake in shares of Internap Corporation by 289.0% in the first quarter. Avenir Corp now owns 7,840,204 shares of the information technology services provider’s stock valued at $29,166,000 after buying an additional 5,824,967 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Internap Corporation by 8.8% in the second quarter. Gamco Investors INC. ET AL now owns 6,993,067 shares of the information technology services provider’s stock valued at $25,665,000 after buying an additional 563,500 shares in the last quarter. UBS Oconnor LLC grew its stake in shares of Internap Corporation by 725.7% in the first quarter. UBS Oconnor LLC now owns 5,000,000 shares of the information technology services provider’s stock valued at $18,600,000 after buying an additional 4,394,481 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Internap Corporation by 13.5% in the second quarter. Vanguard Group Inc. now owns 3,081,341 shares of the information technology services provider’s stock valued at $11,309,000 after buying an additional 365,676 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Internap Corporation (INAP) traded down 1.86% during trading on Thursday, reaching $4.21. The company’s stock had a trading volume of 553,120 shares. The company’s 50-day moving average is $4.26 and its 200-day moving average is $3.56. Internap Corporation has a 1-year low of $0.80 and a 1-year high of $4.78. The company’s market capitalization is $350.71 million.

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About Internap Corporation

Internap Corporation is a technology provider of Internet infrastructure. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.

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Earnings History and Estimates for Internap Corporation (NASDAQ:INAP)

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