Zacks Investment Research upgraded shares of InnerWorkings (NASDAQ:INWK) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $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 weighed in on INWK. ValuEngine upgraded InnerWorkings from a hold rating to a buy rating in a report on Saturday, August 10th. Barrington Research upgraded InnerWorkings from a market perform rating to an outperform rating in a report on Friday, August 9th. Finally, Craig Hallum upgraded InnerWorkings from a hold rating to a buy rating and set a $6.00 price objective on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. InnerWorkings presently has a consensus rating of Buy and an average target price of $5.50.
InnerWorkings (NASDAQ:INWK) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $286.25 million. As a group, analysts forecast that InnerWorkings will post 0.23 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. lifted its holdings in InnerWorkings by 38.9% in the 4th quarter. Macquarie Group Ltd. now owns 7,140 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 2,000 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in InnerWorkings by 126.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,320 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 5,209 shares in the last quarter. Acadian Asset Management LLC purchased a new position in InnerWorkings in the 2nd quarter valued at $39,000. Menta Capital LLC purchased a new position in InnerWorkings in the 1st quarter valued at $43,000. Finally, Jane Street Group LLC purchased a new position in InnerWorkings in the 4th quarter valued at $49,000. Institutional investors own 83.38% of the company’s stock.
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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