Innodata Inc. (NASDAQ:INOD) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Innodata Inc. has received an average rating of "Moderate Buy" from analysts, with one hold rating and four buy ratings.
• The average 12-month price target for Innodata's stock is $63.00, with BWS Financial setting a higher target at $74.00.
• Innodata's quarterly earnings showed a 79.7% increase in revenue year-over-year, reporting $58.39 million compared to estimates of $56.35 million.

Innodata Inc. (NASDAQ:INOD - Get Free Report) has been given an average rating of "Moderate Buy" by the five analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $63.00.

A number of brokerages have weighed in on INOD. BWS Financial reissued a "buy" rating and issued a $74.00 price target on shares of Innodata in a report on Monday, June 16th. Weiss Ratings reissued a "hold (c+)" rating on shares of Innodata in a report on Saturday, September 27th.

Institutional Investors Weigh In On Innodata

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new stake in shares of Innodata during the second quarter valued at $36,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Innodata during the first quarter valued at $29,000. Toth Financial Advisory Corp lifted its holdings in shares of Innodata by 40.2% during the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company's stock valued at $59,000 after purchasing an additional 330 shares during the last quarter. KBC Group NV purchased a new stake in shares of Innodata during the first quarter valued at $52,000. Finally, Pinnacle Investment Management Ltd purchased a new stake in shares of Innodata during the second quarter valued at $77,000. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Trading Up 6.6%

Shares of NASDAQ:INOD opened at $93.19 on Thursday. The company has a 50 day moving average of $55.19 and a 200-day moving average of $46.33. The firm has a market cap of $2.97 billion, a P/E ratio of 75.15 and a beta of 2.96. Innodata has a twelve month low of $14.79 and a twelve month high of $93.85. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.09. The company had revenue of $58.39 million during the quarter, compared to analyst estimates of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. Innodata's quarterly revenue was up 79.7% on a year-over-year basis. As a group, analysts anticipate that Innodata will post 0.81 earnings per share for the current fiscal year.

About Innodata

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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