Consensus score reveals Buy position in Technology Stock: Internap Corporation (INAP)

Bank of New York Mellon Corp reduced its position in shares of Internap Corporation (NASDAQ:INAP) by 0.5% during the first quarter, Holdings Channel reports.

Currently Internap Corp Cmn (NASDAQ:INAP)'s shares owned by insiders are 4.1%, whereas shares owned by institutional owners are 78.6%. According to the past 5 years report, the company on average reported 43.90% year-over-year EPS growth and sales growth was recorded at 40.40%. Raymond James Financial, Inc. upgraded Internap Corporation from an "outperform" rating to a "strong-buy" rating and set a $7.00 target price for the company in a research report on Friday, August 4th. Renaissance Technologies LLC now owns 1,563,420 shares of the information technology services provider's stock worth $2,408,000 after buying an additional 493,920 shares during the period. This is based on a 1-5 numeric scale where Rating Scale: 1.0 Strong Buy, 2.0 Buy, 3.0 Hold, 4.0 Sell, 5.0 Strong Sell. The firm owned 51,492 shares of the information technology services provider's stock after selling 276 shares during the period. Renaissance Technologies LLC boosted its position in shares of Internap Corporation by 46.2% in the fourth quarter.

The stock volatility for week was 6.51% while for month was 4.85%.The stock, as of last close, traded 460.14% to its 52 week low and was changed -6.37% from its 52 week high. The 50 day moving average went up $0.96 or +25.46% and the 200 day average went up by +53.25%. Finally, UBS AG upgraded Internap Corporation from an "outperform" rating to a "strong-buy" rating in a research report on Friday, August 4th. If you are accessing this article on another domain, it was stolen and reposted in violation of United States and global trademark & copyright legislation. The relative volume of the stock is 2.65, while its market cap is $377.66 Million.

Internap Corporation (NASDAQ:INAP) has seen its price went down by -6.82% over the course of one week.

Internap Corporation (NASDAQ:INAP) last issued its quarterly earnings data on Thursday, August 3rd. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. The institutional investor owned 27,373 shares of the information technology services provider's stock after buying an additional 12,620 shares during the period. For the current year the company's revenue estimates are $280.17 Million compared to low analyst estimates of $277.14 Million and high estimates of $285 Million according to 7 number of analysts. The correct version of this piece can be viewed at https://www.thestockobserver.com/2017/08/10/bank-of-new-york-mellon-corp-cuts-stake-in-internap-corporation-inap.html. Highbridge Capital Management LLC purchased a new stake in shares of Internap Corporation during the first quarter worth approximately $155,000. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $5.31. The information technology services provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by $0.01. The stock is a Buy among 5 brokerage firms polled by Factset Research. BidaskClub downgraded shares of Internap Corporation from a "buy" rating to a "hold" rating in a research report on Tuesday, July 25th.

INAP's Former 10% Owner Park West Asset Management LLC Sell 2250000 shares of the company at a price of $3.88 on 2017-07-25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter J. Rogers, Jr. acquired 15,280 shares of the business's stock in a transaction on Tuesday, May 30th. Jpmorgan Chase & Co owns 55,940 shares with a value of $205,000. Shares of the company are trading at $4.20 which is significantly above the 50 day moving average of $3.94 and impressively higher than the 200 day moving average of $3.20. The disclosure for this sale can be found here. During the same quarter in the previous year, the business posted ($0.21) EPS. Insiders have sold 3,482,700 shares of company stock valued at $13,640,242 in the last quarter. The Firm provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. Internap Corporation's revenue for the quarter was down 6.3% compared to the same quarter a year ago. The Firm operates through two divisions: Data Center and Network Services, and Cloud and Hosting Services.

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