Analysts Anticipate Internap Corporation (INAP) Will Announce Quarterly Sales of $68.93 Million
Equities research analysts expect Internap Corporation (NASDAQ:INAP) to report sales of $68.93 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Internap Corporation’s earnings. The lowest sales estimate is $67.92 million and the highest is $70.20 million. Internap Corporation reported sales of $73.94 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.8%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Internap Corporation will report full-year sales of $68.93 million for the current year, with estimates ranging from $277.14 million to $282.00 million. For the next year, analysts expect that the business will report sales of $279.81 million per share, with estimates ranging from $269.21 million to $293.00 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for 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 Zacks’ consensus estimate of ($0.07) by $0.01. The business had revenue of $69.64 million during the quarter, compared to analysts’ expectations of $70.59 million. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) earnings per share.
Several brokerages have recently commented on INAP. BidaskClub upgraded Internap Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Raymond James Financial, Inc. upgraded Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 price target on the stock in a research note on Friday, August 4th. UBS AG upgraded Internap Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research upgraded Internap Corporation from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Tuesday, May 16th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $5.31.
Shares of Internap Corporation (INAP) opened at 4.35 on Thursday. Internap Corporation has a 52-week low of $0.80 and a 52-week high of $4.78. The stock’s market capitalization is $345.86 million. The stock has a 50 day moving average of $4.26 and a 200-day moving average of $3.55.
In other news, major shareholder Park West Asset Management Llc sold 125,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $4.19, for a total transaction of $523,750.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 3,482,700 shares of company stock worth $13,640,242. Insiders own 5.83% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of INAP. Acadian Asset Management LLC purchased a new position in Internap Corporation in the first quarter valued at about $665,000. Engineers Gate Manager LP purchased a new position in Internap Corporation in the first quarter valued at about $526,000. Oxford Asset Management purchased a new position in Internap Corporation in the first quarter valued at about $1,685,000. Raymond James Financial Services Advisors Inc. purchased a new position in Internap Corporation in the first quarter valued at about $232,000. Finally, SG Americas Securities LLC purchased a new position in Internap Corporation in the first quarter valued at about $246,000. Institutional investors own 83.46% of the company’s stock.
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Internap Corporation Company Profile
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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