$76.71 Million in Sales Expected for Internap Corp (NASDAQ:INAP) This Quarter

Equities analysts predict that Internap Corp (NASDAQ:INAP) will report $76.71 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Internap’s earnings. The highest sales estimate is $78.50 million and the lowest is $75.37 million. Internap posted sales of $81.96 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.4%. The business is expected to announce its next quarterly earnings report on Thursday, August 1st.

On average, analysts expect that Internap will report full year sales of $316.38 million for the current fiscal year, with estimates ranging from $314.83 million to $318.71 million. For the next year, analysts expect that the company will post sales of $338.62 million, with estimates ranging from $332.70 million to $346.37 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Internap.

Internap (NASDAQ:INAP) last posted its earnings results on Thursday, May 9th. The information technology services provider reported ($0.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.26). The firm had revenue of $73.60 million during the quarter, compared to analysts’ expectations of $77.03 million. During the same quarter in the previous year, the business earned ($0.70) earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis.

Several equities analysts have recently issued reports on the company. ValuEngine cut Internap from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Wells Fargo & Co raised Internap from a “market perform” rating to an “outperform” rating and set a $8.00 price target on the stock in a research note on Thursday, March 21st. Raymond James reduced their price target on Internap from $22.00 to $15.00 and set a “strong-buy” rating on the stock in a research note on Friday, March 15th. SunTrust Banks reaffirmed a “buy” rating and issued a $6.00 price target on shares of Internap in a research note on Friday, May 10th. Finally, Zacks Investment Research raised Internap from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Internap currently has an average rating of “Hold” and a consensus price target of $9.92.

A number of hedge funds have recently modified their holdings of INAP. BNP Paribas Arbitrage SA grew its stake in Internap by 781.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,123 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 4,542 shares during the period. Citigroup Inc. grew its stake in shares of Internap by 67.9% in the fourth quarter. Citigroup Inc. now owns 10,171 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 4,115 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Internap in the fourth quarter worth $47,000. American International Group Inc. grew its stake in shares of Internap by 19.8% in the fourth quarter. American International Group Inc. now owns 15,961 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 2,639 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Internap in the fourth quarter worth $72,000. 71.92% of the stock is currently owned by institutional investors.

INAP opened at $3.09 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 11,888.77. Internap has a 52-week low of $2.29 and a 52-week high of $15.31. The stock has a market capitalization of $80.20 million, a PE ratio of -1.03 and a beta of 2.87. The company’s 50 day simple moving average is $2.89.

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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