InnerWorkings Inc. (INWK) Trading Down 1.6%
InnerWorkings Inc. (NASDAQ:INWK) fell 1.6% during mid-day trading on Thursday . The company traded as low as $9.07 and last traded at $9.09, with a volume of 56,118 shares trading hands. The stock had previously closed at $9.24.
Separately, Zacks Investment Research upgraded InnerWorkings from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Wednesday, May 11th.
The firm’s market capitalization is $482.29 million. The company’s 50-day moving average price is $8.60 and its 200 day moving average price is $7.98.
InnerWorkings (NASDAQ:INWK) last issued its earnings results on Monday, August 15th. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.07. The business earned $269.20 million during the quarter, compared to analyst estimates of $262.46 million. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. On average, analysts forecast that InnerWorkings Inc. will post $0.33 EPS for the current fiscal year.
An institutional investor recently raised its position in InnerWorkings stock. I.G. Investment Management LTD. raised its stake in InnerWorkings Inc. (NASDAQ:INWK) by 4.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 162,158 shares of the company’s stock after buying an additional 6,904 shares during the period. I.G. Investment Management LTD. owned 0.31% of InnerWorkings worth $1,216,000 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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