Zacks: Brokerages Anticipate Internap Corp (INAP) to Post -$0.10 EPS

Analysts forecast that Internap Corp (NASDAQ:INAP) will announce earnings per share (EPS) of ($0.10) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Internap Corp’s earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.12). Internap Corp posted earnings of ($0.16) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 37.5%. The business is expected to report its next quarterly earnings results on Thursday, May 4th.

Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Internap Corp.

Internap Corp (NASDAQ:INAP) last issued its earnings results on Thursday, March 9th. The information technology services provider reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. Internap Corp had a negative return on equity of 43.35% and a negative net margin of 40.57%. The firm had revenue of $74.10 million for the quarter, compared to analysts’ expectations of $73.46 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year.

Several research firms have commented on INAP. Benchmark Co. reaffirmed a “buy” rating and issued a $5.00 price target (up from $4.00) on shares of Internap Corp in a report on Saturday, March 11th. Stifel Nicolaus raised shares of Internap Corp from a “hold” rating to a “buy” rating and upped their price target for the company from $2.00 to $5.50 in a report on Friday, March 10th. Finally, Zacks Investment Research raised shares of Internap Corp from a “sell” rating to a “buy” rating and set a $2.75 price target on the stock in a report on Monday, February 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Internap Corp currently has an average rating of “Buy” and an average price target of $4.35.

Shares of Internap Corp (NASDAQ:INAP) traded down 2.52% during midday trading on Tuesday, hitting $3.10. The stock had a trading volume of 599,305 shares. The stock’s market cap is $168.96 million. The firm has a 50 day moving average price of $3.44 and a 200-day moving average price of $2.01. Internap Corp has a 52-week low of $0.80 and a 52-week high of $3.86.

A number of large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in Internap Corp during the first quarter valued at approximately $665,000. Two Sigma Investments LP raised its stake in Internap Corp by 146.6% in the fourth quarter. Two Sigma Investments LP now owns 245,135 shares of the information technology services provider’s stock valued at $378,000 after buying an additional 145,712 shares during the last quarter. Renaissance Technologies LLC raised its stake in Internap Corp by 46.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,563,420 shares of the information technology services provider’s stock valued at $2,408,000 after buying an additional 493,920 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Internap Corp by 86.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 117,246 shares of the information technology services provider’s stock valued at $184,000 after buying an additional 54,432 shares during the last quarter. Finally, Gabelli Funds LLC raised its stake in Internap Corp by 4.8% in the fourth quarter. Gabelli Funds LLC now owns 5,009,817 shares of the information technology services provider’s stock valued at $7,715,000 after buying an additional 228,232 shares during the last quarter. 63.58% of the stock is currently owned by institutional investors.

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Internap Corp Company Profile

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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