Innodata Inc. (NASDAQ:INOD) Receives $55.00 Consensus Target Price from Analysts

Innodata Inc. (NASDAQ:INOD - Get Free Report) has been given an average recommendation of "Buy" by the five research firms that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $55.00.

A number of equities research analysts recently issued reports on INOD shares. BWS Financial reaffirmed a "buy" rating and issued a $74.00 target price on shares of Innodata in a research note on Monday, June 16th. Wedbush reduced their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV acquired a new position in Innodata in the first quarter valued at $29,000. Meeder Asset Management Inc. purchased a new stake in Innodata in the 4th quarter valued at about $36,000. AlphaQuest LLC increased its stake in shares of Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after acquiring an additional 456 shares during the last quarter. KBC Group NV purchased a new position in shares of Innodata during the 1st quarter worth about $52,000. Finally, Motco acquired a new stake in shares of Innodata in the first quarter worth approximately $72,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Innodata Price Performance

Shares of NASDAQ:INOD traded up $1.85 during midday trading on Tuesday, hitting $49.79. 1,526,335 shares of the stock were exchanged, compared to its average volume of 1,591,182. Innodata has a twelve month low of $13.02 and a twelve month high of $71.00. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average price of $41.78 and a 200-day moving average price of $41.63. The stock has a market cap of $1.58 billion, a P/E ratio of 47.87 and a beta of 2.68.

Innodata (NASDAQ:INOD - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. Innodata had a net margin of 17.53% and a return on equity of 55.38%. The firm had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata's revenue for the quarter was up 120.1% compared to the same quarter last year. On average, research analysts forecast that Innodata will post 0.81 earnings per share for the current year.

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.