Internap (NASDAQ:INAP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, February 16th.

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. “

A number of other research analysts have also recently issued reports on INAP. BidaskClub upgraded shares of Internap from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Benchmark restated a “buy” rating and set a $28.00 price target on shares of Internap in a report on Tuesday, January 30th. Finally, ValuEngine upgraded shares of Internap from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $24.00.

Internap (NASDAQ:INAP) traded up $0.09 during midday trading on Friday, hitting $13.73. 355,750 shares of the company traded hands, compared to its average volume of 235,288. Internap has a twelve month low of $11.69 and a twelve month high of $22.36. The company has a debt-to-equity ratio of 107.36, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $284.34, a price-to-earnings ratio of -4.53 and a beta of 1.98.

Internap (NASDAQ:INAP) last issued its quarterly earnings results on Thursday, March 8th. The information technology services provider reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. Internap had a negative net margin of 16.15% and a negative return on equity of 199.09%. The company had revenue of $70.00 million for the quarter, compared to analyst estimates of $68.48 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. Internap’s revenue was down 5.5% compared to the same quarter last year. equities research analysts predict that Internap will post -1.71 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in INAP. Gotham Asset Management LLC boosted its stake in shares of Internap by 173.1% in the 2nd quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock valued at $103,000 after purchasing an additional 17,717 shares in the last quarter. Voya Investment Management LLC bought a new position in Internap in the 2nd quarter worth $133,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Internap in the 2nd quarter worth about $158,000. MetLife Investment Advisors LLC bought a new position in shares of Internap in the 4th quarter worth about $159,000. Finally, Nationwide Fund Advisors bought a new position in shares of Internap in the 2nd quarter worth about $166,000. 84.10% of the stock is owned by institutional investors.

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Internap 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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