Internap Corp (INAP) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $-0.12 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $-0.22. The company posted revenue of $75.92 million in the period, compared to analysts expectations of $77.34 million. The company’s revenue was down -6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.17 EPS.
Many Wall Street Analysts have commented on Internap Corp. Internap Corp was Downgraded by Craig Hallum to ” Hold” on Feb 19, 2016. Shares were Reiterated by The Benchmark Company on Feb 17, 2016 to “Buy” and Lowered the Price Target to $ 7.50 from a previous price target of $10 .
Internap Corp opened for trading at $1.93 and hit $2.04 on the upside on Wednesday, eventually ending the session at $2.04, with a gain of 6.53% or 0.125 points. The heightened volatility saw the trading volume jump to 8,80,464 shares. Company has a market cap of $114 M.
In a different news, on Feb 24, 2016, Michael Ruffolo (CEO) purchased 25,000 shares at $2.15 per share price. According to the SEC, on Feb 24, 2016, Kevin M Dotts (CFO) purchased 24,000 shares at $2.08 per share price. On Feb 24, 2016, Debora J Wilson (director) purchased 100,000 shares at $2.14 per share price, according to the Form-4 filing with the securities and exchange commission.
Internap Corporation formerly InterNAP Network Services Corporation provides Internet infrastructure services. The Company operates through two business segments: Data Center Services segment and Internet Protocol Services segment. Data Center Services segment includes colocation hosting and cloud services. Internet Protocol (IP) Services segment includes its patented Performance IP service content delivery network (CDN) services and IP routing hardware and software platform. It provides hybrid Internet infrastructure services which enables customers to mix and match cloud hosting and colocation for the combination of services. The Company offers its services to industries including software and Internet which include advertising technology; media and entertainment including gaming; business services; hosting and information technology (IT) infrastructure; health care technology infrastructure and telecommunications.