InnerWorkings (INWK) Raised to “Buy” at Zacks Investment Research

InnerWorkings (NASDAQ:INWK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage currently has a $11.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 8.70% from the company’s previous close.

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. “

Other equities research analysts have also recently issued research reports about the company. Dougherty & Co started coverage on InnerWorkings in a research note on Tuesday, October 31st. They set a “buy” rating and a $14.00 target price for the company. Lake Street Capital started coverage on InnerWorkings in a research note on Monday, October 2nd. They set a “buy” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $13.40.

Shares of InnerWorkings (NASDAQ:INWK) opened at $10.12 on Friday. InnerWorkings has a fifty-two week low of $9.08 and a fifty-two week high of $12.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 1.63. The company has a market capitalization of $547.81, a P/E ratio of 24.68, a P/E/G ratio of 1.32 and a beta of 1.68.

InnerWorkings (NASDAQ:INWK) last posted its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. InnerWorkings had a return on equity of 9.53% and a net margin of 2.04%. The firm had revenue of $288.40 million during the quarter, compared to analysts’ expectations of $289.82 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. research analysts forecast that InnerWorkings will post 0.49 EPS for the current year.

A number of hedge funds have recently bought and sold shares of INWK. Schwab Charles Investment Management Inc. increased its stake in InnerWorkings by 12.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 168,482 shares of the business services provider’s stock worth $1,955,000 after acquiring an additional 19,231 shares during the last quarter. Rhumbline Advisers increased its stake in InnerWorkings by 13.6% during the second quarter. Rhumbline Advisers now owns 54,806 shares of the business services provider’s stock worth $636,000 after acquiring an additional 6,541 shares during the last quarter. Legal & General Group Plc increased its stake in InnerWorkings by 10.4% during the second quarter. Legal & General Group Plc now owns 10,713 shares of the business services provider’s stock worth $124,000 after acquiring an additional 1,007 shares during the last quarter. Prudential Financial Inc. increased its stake in InnerWorkings by 6.8% during the second quarter. Prudential Financial Inc. now owns 13,593 shares of the business services provider’s stock worth $158,000 after acquiring an additional 860 shares during the last quarter. Finally, Swiss National Bank increased its stake 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. 80.80% of the stock is owned by institutional investors.

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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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