InnerWorkings Inc. (INWK) Trading Up 2.3%
InnerWorkings Inc. (NASDAQ:INWK) shares were up 2.3% during trading on Wednesday . The company traded as high as $9.01 and last traded at $8.99, with a volume of 62,671 shares changing hands. The stock had previously closed at $8.79.
Separately, Zacks Investment Research upgraded InnerWorkings from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Wednesday, May 11th.
The company’s 50-day moving average price is $8.39 and its 200-day moving average price is $7.70. The firm’s market cap is $480.43 million.
InnerWorkings (NASDAQ:INWK) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. During the same period last year, the firm posted $0.03 EPS. The firm had revenue of $271.10 million for the quarter, compared to analysts’ expectations of $248.54 million. InnerWorkings’s revenue was up 12.0% on a year-over-year basis. Analysts forecast that InnerWorkings Inc. will post $0.32 earnings per share for the current year.
A hedge fund recently raised its stake in InnerWorkings stock. Dimensional Fund Advisors LP increased its position in InnerWorkings Inc. (NASDAQ:INWK) by 12.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,491,215 shares of the company’s stock after buying an additional 161,457 shares during the period. Dimensional Fund Advisors LP owned about 2.81% of InnerWorkings worth $11,184,000 as of its most recent SEC filing.
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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