$73.06 Million in Sales Expected for Internap Corp (NASDAQ:INAP) This Quarter

Wall Street analysts predict that Internap Corp (NASDAQ:INAP) will post $73.06 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Internap’s earnings. The highest sales estimate is $73.60 million and the lowest is $72.51 million. Internap reported sales of $78.24 million in the same quarter last year, which would indicate a negative year over year growth rate of 6.6%. The company is scheduled to report its next quarterly earnings results on Thursday, March 12th.

On average, analysts expect that Internap will report full year sales of $292.65 million for the current financial year, with estimates ranging from $292.09 million to $293.20 million. For the next fiscal year, analysts anticipate that the firm will report sales of $296.87 million, with estimates ranging from $292.43 million to $301.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Internap.

Internap (NASDAQ:INAP) last posted its quarterly earnings data on Tuesday, November 12th. The information technology services provider reported ($1.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by ($0.35). The business had revenue of $72.88 million during the quarter, compared to the consensus estimate of $73.66 million.

Several research firms have commented on INAP. ValuEngine upgraded Internap from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research lowered Internap from a “hold” rating to a “sell” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $7.20.

NASDAQ:INAP traded up $0.02 during trading hours on Friday, hitting $0.98. 74,601 shares of the stock were exchanged, compared to its average volume of 329,319. Internap has a 52-week low of $0.88 and a 52-week high of $6.54. The firm’s fifty day moving average price is $1.06 and its 200 day moving average price is $1.78. The company has a market cap of $26.62 million, a P/E ratio of -0.29 and a beta of 2.93.

Several institutional investors have recently modified their holdings of the company. Gabelli Funds LLC boosted its holdings in shares of Internap by 0.4% during the 4th quarter. Gabelli Funds LLC now owns 2,681,612 shares of the information technology services provider’s stock worth $2,950,000 after purchasing an additional 11,600 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Internap by 371.1% during the 3rd quarter. Pacer Advisors Inc. now owns 98,344 shares of the information technology services provider’s stock worth $254,000 after purchasing an additional 77,470 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Internap during the 4th quarter worth approximately $86,000. Millennium Management LLC boosted its holdings in shares of Internap by 320.6% during the 3rd quarter. Millennium Management LLC now owns 114,300 shares of the information technology services provider’s stock worth $294,000 after purchasing an additional 87,123 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Internap by 51.3% during the 2nd quarter. Invesco Ltd. now owns 426,204 shares of the information technology services provider’s stock worth $1,283,000 after purchasing an additional 144,457 shares during the last quarter. Institutional investors and hedge funds own 56.74% 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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