Analysts' Views: Internap Corp Cmn (INAP)

Marco Green
August 13, 2017

Highbridge Capital Management LLC purchased a new position in shares of Internap Corporation during the first quarter worth approximately $155,000. Atlantic Trust LLC now owns 30,910 shares of the information technology services provider's stock worth $115,000 after buying an additional 6,085 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Internap Corporation by 46.2% in the fourth quarter. The information technology services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.07) by $0.01. Segantii Capital Management Ltd purchased a new position in Internap Corporation during the first quarter valued at approximately $380,000. As of quarter end California Public Employees Retirement System had disposed of 73,200 shares trimming its position 21.8%. 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. To make a proper assessment, investors seek a sound estimate of this year's and next year's earnings per share (EPS), as well as a strong sense of how much the company will earn even farther down the road. Internap Corporation (NASDAQ:INAP) has noticeable measure of stock volatility, for this average true range is an exponential moving average (14 trading days) of the True Ranges. The overall volume in the last trading session was 1.45 million shares.

A look at some of the inputs to technical analysis model shows how Internap Corporation current price compares to its recent moving averages.

Internap Corporation (NASDAQ:INAP) last posted its earnings results on Thursday, August 3rd. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. The firm had revenue of $69.64 million for the quarter, compared to the consensus estimate of $70.59 million. Equities analysts anticipate that Internap Corporation will post ($0.31) EPS for the current fiscal year. Now Internap Corporation's current price is $2.52 shy of the official highest sell-side analyst price target on Wall Street.

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INAP has been the subject of several research reports. BidaskClub cut Internap Corporation from a "buy" rating to a "hold" rating in a research report on Tuesday, July 25th.

Internap Corporation (INAP) has been given an average price target of $4.57 from analysts, according to data collected by Finviz. Raymond James Financial, Inc. upgraded Internap Corporation from an "outperform" rating to a "strong-buy" rating and set a $7.00 target price for the company in a research report on Friday, August 4th. UBS AG upgraded Internap Corporation from an "outperform" rating to a "strong-buy" rating in a research report on Friday, August 4th. The forecast of 4 surveyed investment analysts covering the stock advises investors to Buy stake in the company.

US based company, Internap Corporation (INAP)'s latest closing price distance was 72.03% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at 20.21% and 10.45% compared with the 20 Day Moving Average.

INAP's Former 10% Owner Park West Asset Management LLC Sell 2250000 shares of the company at a price of $3.88 on 2017-07-25. Shares last traded at $4.75 barely above the 50 day moving average which is $3.79 and slightly over the 200 day moving average of $3.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Another trade for 15,280 shares valued at $50,314 was bought by ROGERS PETER J JR. The stock exchanged hands 1.45 Million shares versus average trading capacity of 959.47 Million shares, yielding a market cap of $356.19 Million. Jpmorgan Chase & Co owns 55,940 shares with a value of $205,000. The disclosure for this purchase can be found here. In the last quarter, insiders sold 3,482,700 shares of company stock valued at $13,640,242.

Internap Corporation shares increased 27.35 percent over the past week and rose 23.06 percent over the previous month. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.

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