BWS Financial Reaffirms "Top Pick" Rating for Innodata (NASDAQ:INOD)

Key Points

• BWS Financial reaffirmed its “top pick” rating on Innodata and set a $140 price target, implying 153.35% upside from the prior close. The analyst consensus remains “Moderate Buy,” with an average target of $130.
• Innodata shares fell 3.0% to $55.26, well below their 52-week high of $125.14. The stock has a $1.90 billion market capitalization and trades at a P/E ratio of 41.79.
• The company reported stronger-than-expected quarterly results, with EPS of $0.41 versus the $0.21 estimate and revenue of $92.14 million, up 57.8% year over year. However, director Louise Forlenza recently sold 10,000 shares at an average price of $53.54.

Innodata (NASDAQ:INOD - Get Free Report)'s stock had its "top pick" rating reiterated by BWS Financial in a research report issued on Friday, Benzinga reports. They currently have a $140.00 target price on the technology company's stock. BWS Financial's target price points to a potential upside of 153.35% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Wedbush lifted their price target on shares of Innodata from $100.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. Weiss Ratings lowered shares of Innodata from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 31st. Finally, Zacks Research downgraded shares of Innodata from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $130.00.

Innodata Stock Down 3.0%

Shares of NASDAQ INOD traded down $1.72 during mid-day trading on Friday, reaching $55.26. 192,939 shares of the company traded hands, compared to its average volume of 1,457,416. The company's fifty day moving average is $60.08 and its two-hundred day moving average is $64.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.73. Innodata has a fifty-two week low of $34.23 and a fifty-two week high of $125.14. The stock has a market cap of $1.90 billion, a PE ratio of 41.79 and a beta of 2.88.

Innodata (NASDAQ:INOD - Get Free Report) last posted its earnings results on Thursday, August 6th. The technology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.20. The firm had revenue of $92.14 million during the quarter, compared to analyst estimates of $86.31 million. Innodata had a return on equity of 37.79% and a net margin of 14.66%.The company's revenue for the quarter was up 57.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS. On average, analysts expect that Innodata will post 1.18 earnings per share for the current year.

Insider Transactions at Innodata

In other Innodata news, Director Louise Forlenza sold 10,000 shares of Innodata stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $53.54, for a total value of $535,400.00. Following the transaction, the director directly owned 5,424 shares of the company's stock, valued at $290,400.96. The trade was a 64.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Innodata

Hedge funds have recently modified their holdings of the business. Compass Financial Management LLC acquired a new position in Innodata during the 2nd quarter valued at $26,000. Ancora Advisors LLC acquired a new stake in Innodata in the 2nd quarter worth $36,000. Leonteq Securities AG acquired a new stake in Innodata in the 4th quarter worth $51,000. Fifth Third Bancorp bought a new position in shares of Innodata during the 1st quarter worth about $45,000. Finally, IFP Advisors Inc increased its holdings in shares of Innodata by 74.8% during the 4th quarter. IFP Advisors Inc now owns 1,166 shares of the technology company's stock worth $59,000 after purchasing an additional 499 shares during the period. 30.75% of the stock is owned by institutional investors.

Innodata Company Profile

Innodata Inc is a global data engineering and artificial intelligence services company that helps organizations prepare, manage and use data for digital applications. Its services support the development and deployment of machine learning and generative artificial intelligence systems, including data collection, annotation, labeling, curation, evaluation and model testing.

The company also provides content transformation and information management services. These offerings can include converting and structuring complex content, improving data quality, automating business processes and developing customized data workflows.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.