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

Innodata (NASDAQ:INOD - Get Free Report)'s stock had its "top pick" rating reaffirmed by equities researchers at BWS Financial in a research report issued on Friday, September 18th, Benzinga reports. They presently have a $140.00 price objective on the technology company's stock. BWS Financial's price objective indicates a potential upside of 102.28% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Innodata from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 31st. Zacks Research downgraded shares of Innodata from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, Wedbush lifted their price target on shares of Innodata from $100.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $130.00.

Innodata Stock Down 3.7%

INOD stock traded down $2.66 during midday trading on Friday, reaching $69.21. 1,513,207 shares of the company's stock traded hands, compared to its average volume of 1,509,561. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 52.43 and a beta of 2.88. The firm's fifty day moving average price is $60.13 and its 200-day moving average price is $65.10. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.06. Innodata has a 52 week low of $34.23 and a 52 week high of $125.14.

Innodata (NASDAQ:INOD - Get Free Report) last posted its earnings results on Thursday, August 6th. The technology company reported $0.41 earnings per share (EPS) 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 net margin of 14.66% and a return on equity of 37.79%. The business's revenue was up 57.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. As a group, sell-side analysts forecast that Innodata will post 1.18 earnings per share for the current fiscal year.

Insider Activity at Innodata

In related news, Director Louise Forlenza sold 10,000 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $53.54, for a total value of $535,400.00. Following the completion of the sale, the director directly owned 5,424 shares of the company's stock, valued at approximately $290,400.96. This represents a 64.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INOD. Compass Financial Management LLC bought a new stake in shares of Innodata during the second quarter worth $26,000. Ancora Advisors LLC bought a new position in Innodata in the second quarter worth about $36,000. Fifth Third Bancorp bought a new position in Innodata in the first quarter worth about $45,000. Leonteq Securities AG bought a new position in Innodata in the fourth quarter worth about $51,000. Finally, IFP Advisors Inc grew its stake in shares of Innodata by 74.8% during the fourth quarter. IFP Advisors Inc now owns 1,166 shares of the technology company's stock worth $59,000 after acquiring an additional 499 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors.

About Innodata

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.