Internap (NASDAQ:INAP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
Other analysts have also recently issued reports about the stock. Jefferies Financial Group started coverage on shares of Internap in a research note on Monday, December 10th. They set a “buy” rating and a $7.50 price target on the stock. SunTrust Banks dropped their price target on shares of Internap to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Craig Hallum dropped their price target on shares of Internap from $22.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Finally, ValuEngine upgraded shares of Internap from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $12.30.
Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Internap by 110.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,505 shares of the information technology services provider’s stock valued at $638,000 after buying an additional 26,542 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Internap during the 3rd quarter valued at approximately $3,268,000. Dimensional Fund Advisors LP lifted its stake in Internap by 10.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 721,466 shares of the information technology services provider’s stock worth $9,112,000 after purchasing an additional 66,780 shares in the last quarter. Gabelli Funds LLC lifted its stake in Internap by 25.7% in the 4th quarter. Gabelli Funds LLC now owns 2,915,413 shares of the information technology services provider’s stock worth $12,099,000 after purchasing an additional 595,833 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Internap by 6.6% in the 2nd quarter. BlackRock Inc. now owns 1,375,879 shares of the information technology services provider’s stock worth $14,336,000 after purchasing an additional 84,729 shares in the last quarter. Institutional investors own 75.01% of the company’s stock.
Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.
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