Shares of InnerWorkings, Inc. (NASDAQ:INWK) have been assigned an average rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.00.
INWK has been the subject of several research analyst reports. Barrington Research upgraded InnerWorkings from a “market perform” rating to an “outperform” rating in a research note on Friday, August 9th. Zacks Investment Research cut InnerWorkings from a “buy” rating to a “hold” rating in a research report on Thursday. Craig Hallum upgraded InnerWorkings from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Friday, August 9th. Finally, ValuEngine upgraded InnerWorkings from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.
Shares of NASDAQ:INWK traded up $0.07 during trading on Friday, hitting $4.26. The stock had a trading volume of 188,100 shares, compared to its average volume of 324,410. InnerWorkings has a 12-month low of $2.58 and a 12-month high of $8.12. The stock has a market capitalization of $217.63 million, a price-to-earnings ratio of -53.25 and a beta of 1.43. The stock has a 50-day simple moving average of $3.74 and a two-hundred day simple moving average of $3.92.
InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. InnerWorkings had a positive return on equity of 0.15% and a negative net margin of 6.97%. The firm had revenue of $284.05 million during the quarter, compared to analysts’ expectations of $286.25 million. Equities research analysts anticipate that InnerWorkings will post 0.23 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of INWK. Walleye Trading Advisors LLC increased its holdings in shares of InnerWorkings by 53.2% in the 2nd 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 during the last quarter. Walleye Trading LLC increased its holdings in shares of InnerWorkings by 40.4% in the 2nd quarter. Walleye Trading LLC now owns 40,645 shares of the business services provider’s stock valued at $155,000 after acquiring an additional 11,700 shares during the last quarter. Concourse Capital Management LLC purchased a new position in shares of InnerWorkings in the 2nd quarter valued at about $275,000. Susquehanna International Group LLP boosted its position in shares of InnerWorkings by 143.3% in the 2nd quarter. Susquehanna International Group LLP now owns 39,896 shares of the business services provider’s stock valued at $152,000 after purchasing an additional 23,496 shares during the period. Finally, Citadel Advisors LLC boosted its position in shares of InnerWorkings by 11.8% in the 2nd quarter. Citadel Advisors LLC now owns 321,837 shares of the business services provider’s stock valued at $1,230,000 after purchasing an additional 33,884 shares during the period. Institutional investors and hedge funds own 83.38% of the company’s stock.
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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