$73.66 Million in Sales Expected for Internap Corp (NASDAQ:INAP) This Quarter

Wall Street brokerages forecast that Internap Corp (NASDAQ:INAP) will report sales of $73.66 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Internap’s earnings. The highest sales estimate is $73.80 million and the lowest is $73.51 million. Internap posted sales of $82.97 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.2%. The business is expected to issue its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Internap will report full-year sales of $294.97 million for the current year, with estimates ranging from $294.90 million to $295.04 million. For the next financial year, analysts expect that the firm will post sales of $309.18 million, with estimates ranging from $303.40 million to $314.96 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Internap.

Internap (NASDAQ:INAP) last posted its earnings results on Tuesday, August 6th. The information technology services provider reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.22). The firm had revenue of $73.13 million during the quarter, compared to the consensus estimate of $76.75 million. The company’s revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.47) earnings per share.

A number of equities analysts recently issued reports on the company. Raymond James lowered Internap from a “strong-buy” rating to an “outperform” rating and set a $10.00 price objective for the company. in a report on Wednesday, September 4th. Zacks Investment Research raised shares of Internap from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. Benchmark set a $8.00 price target on Internap and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, ValuEngine raised Internap from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $7.64.

INAP stock remained flat at $$2.15 on Friday. The company had a trading volume of 5,041 shares, compared to its average volume of 157,300. Internap has a 1-year low of $1.84 and a 1-year high of $9.36. The company has a market capitalization of $58.05 million, a P/E ratio of -0.71 and a beta of 3.08. The business has a 50 day simple moving average of $2.34 and a two-hundred day simple moving average of $3.01.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Trading LLC bought a new position in Internap during the second quarter worth about $32,000. Keystone Financial Group bought a new position in Internap during the second quarter worth about $49,000. Pacer Advisors Inc. lifted its stake in Internap by 180.8% during the second quarter. Pacer Advisors Inc. now owns 20,874 shares of the information technology services provider’s stock worth $63,000 after purchasing an additional 13,439 shares during the period. Advisory Services Network LLC bought a new position in Internap during the second quarter worth about $64,000. Finally, Jane Street Group LLC bought a new position in Internap during the second quarter worth about $294,000. Institutional investors and hedge funds own 65.66% of the company’s stock.

Internap Company Profile

Internap Corp. engages in the provision of information technology infrastructure services. It operates through the following segments: INAP US and INAP INTL. The INAP US segment consists of U. S. Colocation, U. S. Cloud, and U. S. Network services based in the United States. The INAP INTL segment consists of these same services based in countries other than the United States, and Ubersmith.

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Earnings History and Estimates for Internap (NASDAQ:INAP)

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