Zacks Investment Research lowered shares of Internap (NASDAQ:INAP) from a hold rating to a sell rating in a research report released on Friday morning.
According to Zacks, “InterNAP Network Services Corp is a provider of high performance Internet connectivity services targeted at businesses seeking to maximize the performance of mission-critical Internet-based applications. Customers connected to one of their service points have their data optimally routed to and from destinations on the Internet using their overlay network, which analyzes the traffic situation on the multiplicity of networks that comprise the Internet and delivers mission-critical information and communications faster and more reliably. “
INAP has been the topic of a number of other reports. BidaskClub raised shares of Internap from a sell rating to a hold rating in a report on Tuesday, January 30th. Benchmark reaffirmed a buy rating and set a $28.00 price objective on shares of Internap in a report on Tuesday, January 30th. Finally, ValuEngine raised shares of Internap from a sell rating to a hold rating in a report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $24.25.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC purchased a new position in Internap during the 4th quarter worth $159,000. Gotham Asset Management LLC boosted its holdings in Internap by 173.1% during the 2nd quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock worth $103,000 after acquiring an additional 17,717 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in Internap by 54.0% during the 3rd quarter. Engineers Gate Manager LP now owns 76,235 shares of the information technology services provider’s stock worth $332,000 after acquiring an additional 26,739 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Internap by 53.3% during the 3rd quarter. Wells Fargo & Company MN now owns 91,411 shares of the information technology services provider’s stock worth $397,000 after acquiring an additional 31,789 shares during the last quarter. Finally, Voya Investment Management LLC purchased a new position in shares of Internap in the 2nd quarter worth about $133,000.
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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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