Internap Corporation (NASDAQ:INAP) released its earnings results on Thursday. The information technology services provider reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04), Briefing.com reports. The firm had revenue of $68.91 million for the quarter, compared to analyst estimates of $69.10 million. Internap Corporation had a negative return on equity of 238.88% and a negative net margin of 18.09%. Internap Corporation’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.75) earnings per share.
Shares of Internap Corporation (INAP) traded down $0.58 on Friday, reaching $3.97. The company had a trading volume of 1,953,461 shares, compared to its average volume of 867,553. The company has a debt-to-equity ratio of 45.19, a current ratio of 0.75 and a quick ratio of 0.75.
Internap Corporation shares are scheduled to reverse split on the morning of Monday, November 20th. The 1-4 reverse split was announced on Thursday, November 2nd. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, November 17th.
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A number of research firms recently issued reports on INAP. UBS Group AG (USA) raised Internap Corporation from an “outperform” rating to a “strong-buy” rating in a report on Friday, August 4th. Raymond James Financial, Inc. raised Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 target price on the stock in a report on Friday, August 4th. BidaskClub raised Internap Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research raised Internap Corporation from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research note on Wednesday, October 4th. Finally, Benchmark Co. reissued a “buy” rating and issued a $6.00 price target (up previously from $5.00) on shares of Internap Corporation in a research note on Monday, September 25th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Internap Corporation has a consensus rating of “Buy” and a consensus price target of $5.81.
About Internap Corporation
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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