InnerWorkings (NASDAQ:INWK) Rating Lowered to Hold at BidaskClub

InnerWorkings (NASDAQ:INWK) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, BidAskClub reports.

Other research analysts also recently issued research reports about the company. Barrington Research upgraded InnerWorkings from a “market perform” rating to an “outperform” rating in a report on Friday, August 9th. ValuEngine upgraded InnerWorkings from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. 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. Finally, Zacks Investment Research downgraded InnerWorkings from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $5.50.

INWK opened at $4.98 on Friday. InnerWorkings has a one year low of $2.58 and a one year high of $5.69. The company has a market cap of $289.83 million, a P/E ratio of -62.25 and a beta of 1.33. The business’s 50-day simple moving average is $4.64 and its 200-day simple moving average is $4.03.

InnerWorkings (NASDAQ:INWK) last released its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). InnerWorkings had a negative net margin of 6.97% and a positive return on equity of 0.15%. The business had revenue of $286.53 million during the quarter, compared to analysts’ expectations of $294.83 million. Analysts forecast that InnerWorkings will post 0.23 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of InnerWorkings by 8.6% in the 3rd quarter. Rhumbline Advisers now owns 71,179 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 5,639 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of InnerWorkings in the 3rd quarter valued at about $1,720,000. Horan Capital Advisors LLC. acquired a new stake in shares of InnerWorkings in the 3rd quarter valued at about $47,000. Strs Ohio acquired a new stake in shares of InnerWorkings in the 3rd quarter valued at about $37,000. Finally, Walleye Trading Advisors LLC boosted its position 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 purchasing an additional 9,200 shares during the period. Institutional investors and hedge funds own 83.27% of the company’s stock.

About InnerWorkings

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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