Innodata Inc. (NASDAQ:INOD) Stock Has Average Price Target of $116.67 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Innodata, with two holds, two buys and one strong buy. The average 12-month price target is $116.67, although individual targets range from $90 to $140.
• Innodata shares rose 2.4% to $54.08, well below their 52-week high of $125.14. The stock has a $1.86 billion market capitalization and a relatively high price-to-earnings ratio of 40.92.
• The company’s latest quarterly results exceeded expectations, with earnings per share of $0.41 versus a $0.21 consensus estimate and revenue of $92.14 million, up 57.8% year over year.

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) have received an average rating of "Moderate Buy" from the five research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $116.67.

A number of equities analysts recently issued reports on INOD shares. Zacks Research downgraded shares of Innodata from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Yorkville Ives assumed coverage on Innodata in a research report on Monday, October 5th. They set an "outperform" rating and a $90.00 price objective on the stock. Weiss Ratings downgraded Innodata from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 31st. Finally, BWS Financial reissued a "top pick" rating and issued a $140.00 target price on shares of Innodata in a research report on Friday, September 18th.

Innodata Trading Up 2.4%

NASDAQ INOD traded up $1.26 during trading on Monday, hitting $54.08. The company had a trading volume of 347,489 shares, compared to its average volume of 1,484,072. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.06. Innodata has a one year low of $34.23 and a one year high of $125.14. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 40.92 and a beta of 2.98. The company's fifty day moving average is $60.56 and its 200-day moving average is $67.38.

Innodata (NASDAQ:INOD - Get Free Report) last posted its earnings results on Thursday, August 6th. The technology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.21 by $0.20. Innodata had a net margin of 14.66% and a return on equity of 37.79%. The firm had revenue of $92.14 million during the quarter, compared to analysts' expectations of $86.31 million. During the same period last year, the company posted $0.20 EPS. The company's quarterly revenue was up 57.8% compared to the same quarter last year. On average, sell-side analysts predict that Innodata will post 1.35 earnings per share for the current year.

Insider Transactions at Innodata

In other Innodata news, Director Louise Forlenza sold 10,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 5,424 shares in the company, valued at approximately $290,400.96. This represents a 64.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.80% of the company's stock.

Institutional Trading of Innodata

A number of hedge funds and other institutional investors have recently modified their holdings of INOD. Glenmede Trust Co. NA raised its position in shares of Innodata by 3.5% in the 1st quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company's stock worth $283,000 after purchasing an additional 248 shares during the last quarter. Compass Financial Management LLC purchased a new stake in Innodata during the 2nd quarter valued at about $26,000. Ancora Advisors LLC purchased a new stake in Innodata during the 2nd quarter valued at about $36,000. CoreCap Advisors LLC increased its stake in Innodata by 333.3% during the 3rd quarter. CoreCap Advisors LLC now owns 650 shares of the technology company's stock valued at $43,000 after purchasing an additional 500 shares in the last quarter. Finally, Quantum Portfolio Management LLC increased its stake in Innodata by 7.6% during the 1st quarter. Quantum Portfolio Management LLC now owns 7,192 shares of the technology company's stock valued at $278,000 after purchasing an additional 505 shares in the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Company Profile

Innodata Inc NASDAQ: INOD is a data engineering and artificial intelligence services company that helps organizations develop, train and deploy AI systems. Its work includes preparing and managing data, creating training datasets, evaluating AI model outputs and supporting the development of large language models and other machine-learning applications.

The company provides services such as data annotation and labeling, model evaluation, generative AI and natural-language processing support, content transformation, and data management.

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