Innodata Inc. (NASDAQ:INOD) Receives Consensus Recommendation of "Buy" from Analysts

Innodata Inc. (NASDAQ:INOD - Get Free Report) has received a consensus rating of "Buy" from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $55.00.

A number of equities analysts have weighed in 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 dropped their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of INOD. Invesco Ltd. raised its stake in shares of Innodata by 2.0% during the fourth quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock worth $466,000 after buying an additional 232 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Innodata by 2.7% during the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock worth $447,000 after acquiring an additional 300 shares during the period. AlphaQuest LLC raised its position 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Innodata by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock valued at $608,000 after purchasing an additional 533 shares during the period. Finally, Creative Financial Designs Inc. ADV acquired a new position in shares of Innodata in the 1st quarter valued at $29,000. Institutional investors own 30.75% of the company's stock.

Innodata Price Performance

Innodata stock traded up $1.85 on Tuesday, reaching $49.79. The company's stock had a trading volume of 1,526,335 shares, compared to its average volume of 1,591,182. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.36 and a current ratio of 2.36. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 47.87 and a beta of 2.68. The business's fifty day moving average price is $41.78 and its 200 day moving average price is $41.63. Innodata has a twelve month low of $13.02 and a twelve month high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly 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 business had revenue of $58.34 million during the quarter, compared to analysts' expectations of $57.64 million. Innodata had a return on equity of 55.38% and a net margin of 17.53%. The firm's quarterly revenue was up 120.1% compared to the same quarter last year. Equities analysts expect that Innodata will post 0.81 earnings per share for the current fiscal 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.