InnerWorkings Inc. (INWK) Sets New 12-Month High at $8.89
InnerWorkings Inc. (NASDAQ:INWK)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $8.89 and last traded at $8.85, with a volume of 87,465 shares traded. The stock had previously closed at $8.62.
Separately, Zacks Investment Research raised InnerWorkings from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Wednesday, May 11th.
The firm has a 50 day moving average of $8.34 and a 200-day moving average of $7.66. The firm’s market capitalization is $469.23 million.
InnerWorkings (NASDAQ:INWK) last released its earnings results on Monday, May 9th. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. During the same quarter last year, the company posted $0.03 earnings per share. The business had revenue of $271.10 million for the quarter, compared to analysts’ expectations of $248.54 million. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that InnerWorkings Inc. will post $0.32 EPS for the current year.
Other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in InnerWorkings by 39.7% in the fourth quarter. American Century Companies Inc. now owns 1,557,005 shares of the company’s stock worth $11,678,000 after buying an additional 442,374 shares during the period. I.G. Investment Management LTD. increased its position in InnerWorkings by 4.4% in the fourth quarter. I.G. Investment Management LTD. now owns 162,158 shares of the company’s stock worth $1,216,000 after buying an additional 6,904 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in InnerWorkings by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,491,215 shares of the company’s stock worth $11,184,000 after buying an additional 161,457 shares during the period.
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 operates through three segments: North America, Latin America and EMEA.
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