Market Overview

InnerWorkings Trading at Multi-Year Highs

Shares of InnerWorkings (NASDAQ: INWK) have been rallying over the last month, notching a gain of nearly 21 percent. In just the last 5 trading sessions, the stock is up almost 7 percent. On Tuesday, shares climbed around 1 percent despite a broader market pullback.

InnerWorkings is a small-cap company which is a provider of global print management and promotional solutions to corporate clients. The company generates its revenues by procuring and purchasing printed products from its suppliers and selling those products to clients.

At current levels, InnerWorkings has a market cap of around $735 million and the stock does not pay a dividend. In 2012, INWK has been a big winner, rising more than 60 percent. Over the last year, the stock has surged almost 89 percent.

The stock is currently sitting at new 52-week highs just below $15.00 and continues to see significant momentum. Shares are trading more than 19 percent above their 50-day moving average and 27 percent above their 200-day moving average.

The stock currently has a Relative Strength (RSI) reading of over 84, making it one of the strongest names in the market. The high RSI, however, may suggest that INWK could be vulnerable to a sharp sell-off if traders decide to take profits in the name.

The stock is trading at a forward P/E of 24.36 and a PEG ratio of 1.51. Analysts have a favorable view of INWK with a median price target of $16.00 and a high target of $19.00. Sales are expected to grow more than 45 percent next year according to consensus Wall Street estimates. Going forward, this will continue to be a small-cap name that traders should keep an eye on.

Posted-In: Long Ideas Small Cap Analysis Intraday Update Movers Trading Ideas

 

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