InnerWorkings, Inc. (NASDAQ:INWK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $12.00 target price on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.21% from the stock’s previous close.
According to Zacks, “INNERWORKINGS are a leading global provider of managed print and promotional procurement solutions to corporate clients. With proprietary technology, an extensive supplier network and domain expertise, they procure, manage and deliver printed products as part of a comprehensive outsourced enterprise solution. Their technology is designed to capitalize on excess manufacturing capacity and other inefficiencies in the traditional print supply chain to obtain favorable pricing and to deliver high quality products and services for our clients. “
Several other analysts have also recently weighed in on the stock. Wunderlich initiated coverage on shares of InnerWorkings in a report on Thursday, April 6th. They issued a “buy” rating and a $12.00 price target on the stock. TheStreet upgraded shares of InnerWorkings from a “c+” rating to a “b” rating in a report on Friday, March 17th. Finally, Barrington Research lifted their price target on shares of InnerWorkings from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday, May 10th.
InnerWorkings (NASDAQ INWK) traded up 1.22% during midday trading on Friday, hitting $10.79. 418,676 shares of the stock were exchanged. The company’s 50 day moving average is $10.95 and its 200-day moving average is $10.05. InnerWorkings has a 1-year low of $7.59 and a 1-year high of $11.94. The stock has a market cap of $573.15 million, a PE ratio of 47.32 and a beta of 1.66.
InnerWorkings (NASDAQ:INWK) last released its quarterly earnings results on Monday, May 8th. The business services provider reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $277.43 million. InnerWorkings had a net margin of 1.15% and a return on equity of 8.72%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, analysts expect that InnerWorkings will post $0.49 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Arrowpoint Asset Management LLC boosted its stake in InnerWorkings by 58.7% in the fourth quarter. Arrowpoint Asset Management LLC now owns 2,134,629 shares of the business services provider’s stock valued at $21,026,000 after buying an additional 789,565 shares during the period. Russell Investments Group Ltd. bought a new stake in InnerWorkings during the fourth quarter valued at $6,039,000. Granahan Investment Management Inc. MA boosted its stake in InnerWorkings by 65.1% in the first quarter. Granahan Investment Management Inc. MA now owns 705,038 shares of the business services provider’s stock valued at $7,022,000 after buying an additional 278,070 shares during the period. Vanguard Group Inc. boosted its stake in InnerWorkings by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,509,465 shares of the business services provider’s stock valued at $34,955,000 after buying an additional 173,364 shares during the period. Finally, Cardinal Capital Management LLC CT boosted its stake in InnerWorkings by 181.1% in the fourth quarter. Cardinal Capital Management LLC CT now owns 203,800 shares of the business services provider’s stock valued at $2,007,000 after buying an additional 131,310 shares during the period. Institutional investors and hedge funds own 80.63% of the company’s stock.
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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