InnerWorkings (NASDAQ:INWK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $11.00 target price on the business services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 7.32% from the stock’s current price.
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. “
INWK has been the subject of several other research reports. Dougherty & Co started coverage on shares of InnerWorkings in a research note on Tuesday, October 31st. They issued a “buy” rating and a $14.00 price objective for the company. Lake Street Capital started coverage on shares of InnerWorkings in a research note on Monday, October 2nd. They issued a “buy” rating and a $14.00 price objective for the company. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. InnerWorkings currently has an average rating of “Buy” and a consensus price target of $13.40.
Shares of InnerWorkings (NASDAQ INWK) opened at $10.25 on Friday. The firm has a market cap of $554.75, a PE ratio of 21.81, a PEG ratio of 1.33 and a beta of 1.68. The company has a quick ratio of 1.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.51. InnerWorkings has a fifty-two week low of $9.08 and a fifty-two week high of $12.03.
InnerWorkings (NASDAQ:INWK) last issued its earnings results on Tuesday, November 7th. The business services provider reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. InnerWorkings had a net margin of 2.04% and a return on equity of 9.53%. The business had revenue of $288.40 million for the quarter, compared to the consensus estimate of $289.82 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. sell-side analysts expect that InnerWorkings will post 0.49 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of InnerWorkings in the second quarter valued at about $550,000. Stifel Financial Corp acquired a new position in InnerWorkings during the second quarter worth about $7,623,000. Vanguard Group Inc. raised its position in InnerWorkings by 4.6% during the second quarter. Vanguard Group Inc. now owns 3,669,795 shares of the business services provider’s stock worth $42,570,000 after acquiring an additional 160,330 shares during the last quarter. Swiss National Bank raised its position in InnerWorkings by 21.6% during the second quarter. Swiss National Bank now owns 82,200 shares of the business services provider’s stock worth $954,000 after acquiring an additional 14,600 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new position in InnerWorkings during the second quarter worth about $251,000. Hedge funds and other institutional investors own 80.80% of the company’s stock.
InnerWorkings Company Profile
InnerWorkings, Inc is a marketing execution company. 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. The Company’s segments include North America and International.
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