InnerWorkings (NASDAQ:INWK) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of InnerWorkings (NASDAQ:INWK) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. They currently have $5.00 target price on the business services provider’s stock.

According to Zacks, “InnerWorkings, Inc. is a marketing execution company. Its software applications and databases create an integrated solution which stores, analyzes and tracks the production capabilities of its supplier network as well as detailed pricing data. The company primarily serves retail, financial services, hospitality, consumer packaged goods, non-profits, healthcare, pharmaceuticals, food and beverage, broadcasting and cable and transportation sectors. InnerWorkings, Inc. is based in CHICAGO, United States. “

A number of other research analysts have also recently commented on INWK. Craig Hallum raised shares of InnerWorkings from a hold rating to a buy rating and set a $6.00 target price on the stock in a research report on Friday, August 9th. Barrington Research raised shares of InnerWorkings from a market perform rating to an outperform rating in a research report on Friday, August 9th. Finally, ValuEngine raised shares of InnerWorkings from a hold rating to a buy rating in a research report on Saturday, August 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $5.50.

Shares of INWK stock opened at $4.26 on Wednesday. The stock has a market cap of $215.56 million, a price-to-earnings ratio of -53.25 and a beta of 1.43. InnerWorkings has a fifty-two week low of $2.58 and a fifty-two week high of $8.12. The firm’s 50 day moving average price is $3.74 and its two-hundred day moving average price is $3.92.

InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $284.05 million for the quarter, compared to analysts’ expectations of $286.25 million. InnerWorkings had a negative net margin of 6.97% and a positive return on equity of 0.15%. On average, research analysts anticipate that InnerWorkings will post 0.23 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. lifted its position in shares of InnerWorkings by 38.9% during the fourth quarter. Macquarie Group Ltd. now owns 7,140 shares of the business services provider’s stock worth $27,000 after purchasing an additional 2,000 shares in the last quarter. Northern Trust Corp lifted its position in shares of InnerWorkings by 0.6% during the fourth quarter. Northern Trust Corp now owns 542,018 shares of the business services provider’s stock worth $2,027,000 after purchasing an additional 2,972 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of InnerWorkings by 126.7% during the first quarter. BNP Paribas Arbitrage SA now owns 9,320 shares of the business services provider’s stock worth $34,000 after purchasing an additional 5,209 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of InnerWorkings by 50.3% during the first quarter. SG Americas Securities LLC now owns 19,543 shares of the business services provider’s stock worth $71,000 after purchasing an additional 6,541 shares in the last quarter. Finally, Walleye Trading Advisors LLC raised its holdings in InnerWorkings by 53.2% in the second quarter. Walleye Trading Advisors LLC now owns 26,495 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 9,200 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

InnerWorkings Company Profile

InnerWorkings, Inc provides marketing execution solutions in North America and internationally. The company's software applications and databases create an integrated solution that stores, analyzes, and tracks the production capabilities of its supplier network, as well as detailed pricing data.

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