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

Innodata (NASDAQ:INOD - Get Free Report)'s stock had its "buy" rating reissued by analysts at BWS Financial in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $74.00 target price on the technology company's stock. BWS Financial's target price indicates a potential upside of 67.66% from the stock's previous close.

A number of other equities analysts have also recently weighed in on the stock. Wedbush reduced their target price on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Maxim Group lifted their target price on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Innodata presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Innodata Price Performance

Innodata stock traded up $4.95 during mid-day trading on Monday, reaching $44.14. The company had a trading volume of 858,335 shares, compared to its average volume of 1,465,132. The stock's 50-day simple moving average is $38.13 and its 200-day simple moving average is $40.93. The company has a market capitalization of $1.40 billion, a P/E ratio of 51.12 and a beta of 2.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata has a 1 year low of $12.67 and a 1 year high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. The firm had revenue of $58.34 million for the quarter, compared to analyst estimates of $57.64 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business's revenue was up 120.1% on a year-over-year basis. On average, equities analysts predict that Innodata will post 0.81 EPS for the current year.

Hedge Funds Weigh In On Innodata

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp grew its position in Innodata by 9.9% during the fourth quarter. Northern Trust Corp now owns 252,753 shares of the technology company's stock worth $9,989,000 after buying an additional 22,808 shares in the last quarter. Strong Tower Advisory Services acquired a new stake in Innodata during the first quarter worth $835,000. Palisades Investment Partners LLC increased its holdings in Innodata by 6.1% in the 4th quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company's stock valued at $14,569,000 after buying an additional 21,093 shares during the period. Vanguard Group Inc. raised its stake in shares of Innodata by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock valued at $64,802,000 after buying an additional 117,000 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Innodata by 1,718.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock valued at $37,331,000 after buying an additional 892,663 shares in the last quarter. Institutional investors own 30.75% of the company's stock.

Innodata Company Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.

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