Analysts Set Innodata Inc. (NASDAQ:INOD) PT at $55.00

Innodata Inc. (NASDAQ:INOD - Get Free Report) has been given a consensus rating of "Buy" by the five research firms that are presently 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 covered the stock in the last year is $55.00.

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

Innodata Stock Performance

Shares of NASDAQ:INOD traded down $2.56 during midday trading on Friday, hitting $48.67. The company had a trading volume of 2,552,711 shares, compared to its average volume of 1,426,078. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 57.26 and a beta of 2.65. Innodata has a 12-month low of $12.67 and a 12-month high of $71.00. The company has a fifty day moving average of $37.32 and a two-hundred day moving average of $40.89.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $57.64 million. Innodata's revenue for the quarter was up 120.1% compared to the same quarter last year. On average, equities research analysts expect that Innodata will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Innodata

A number of institutional investors have recently modified their holdings of INOD. Allworth Financial LP purchased a new position in shares of Innodata during the fourth quarter worth approximately $29,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Innodata during the first quarter worth approximately $29,000. Meeder Asset Management Inc. purchased a new position in shares of Innodata during the fourth quarter worth approximately $36,000. AlphaQuest LLC increased its position in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after acquiring an additional 456 shares during the period. Finally, KBC Group NV purchased a new position in shares of Innodata during the first quarter worth approximately $52,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.