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

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) have earned a consensus recommendation of "Buy" from the five brokerages that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $55.00.

A number of equities analysts have commented on the company. BWS Financial increased their target price on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a report on Friday, February 21st. Wedbush reduced their price target on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Maxim Group lifted their price target on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, February 21st.

Innodata Stock Performance

INOD traded up $5.59 during midday trading on Friday, hitting $51.23. 3,040,645 shares of the company were exchanged, compared to its average volume of 1,417,076. The company's 50 day simple moving average is $37.11 and its 200 day simple moving average is $40.93. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 60.27 and a beta of 2.65. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. 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 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm had revenue of $58.34 million for the quarter, compared to analysts' expectations of $57.64 million. The firm's revenue for the quarter was up 120.1% compared to the same quarter last year. As a group, sell-side analysts predict that Innodata will post 0.81 earnings per share for the current year.

Institutional Trading of Innodata

Large investors have recently modified their holdings of the stock. Spire Wealth Management acquired a new position in shares of Innodata during the fourth quarter worth $166,000. Jennison Associates LLC acquired a new stake in shares of Innodata during the fourth quarter worth about $402,000. Calamos Advisors LLC acquired a new stake in shares of Innodata during the fourth quarter worth about $283,000. Allworth Financial LP acquired a new stake in shares of Innodata during the fourth quarter worth about $29,000. Finally, Principal Financial Group Inc. lifted its position in Innodata by 9.9% in the fourth quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company's stock valued at $806,000 after purchasing an additional 1,828 shares during the period. Hedge funds and other 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.