Internap Corp (INAP) Position Lifted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. increased its position in Internap Corp (NASDAQ:INAP) by 5.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 155,744 shares of the information technology services provider’s stock after buying an additional 8,171 shares during the period. Schwab Charles Investment Management Inc. owned about 0.73% of Internap worth $1,623,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. bought a new position in Internap in the 2nd quarter worth $126,000. Citadel Advisors LLC bought a new position in Internap in the 1st quarter worth $169,000. Dynamic Technology Lab Private Ltd bought a new position in Internap in the 1st quarter worth $188,000. Royal Bank of Canada boosted its holdings in Internap by 1,220.3% in the 1st quarter. Royal Bank of Canada now owns 17,666 shares of the information technology services provider’s stock worth $194,000 after buying an additional 16,328 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Internap in the 1st quarter worth $202,000. 83.90% of the stock is owned by institutional investors.
Several research analysts recently weighed in on INAP shares. SunTrust Banks started coverage on shares of Internap in a report on Tuesday, September 18th. They issued a “buy” rating and a $22.00 target price for the company. BidaskClub raised shares of Internap from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Stifel Nicolaus set a $13.00 price objective on shares of Internap and gave the company a “hold” rating in a report on Friday, August 3rd. Zacks Investment Research raised shares of Internap from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Finally, ValuEngine raised shares of Internap from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.75.
Internap (NASDAQ:INAP) last released its quarterly earnings data on Thursday, August 2nd. The information technology services provider reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.22. Internap had a negative net margin of 15.52% and a negative return on equity of 2,471.65%. The business had revenue of $81.96 million during the quarter, compared to the consensus estimate of $81.76 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. The business’s revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts forecast that Internap Corp will post -2.27 EPS for the current fiscal year.
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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