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

Innodata Inc. (NASDAQ:INOD - Get Free Report) has earned a consensus recommendation of "Buy" from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $55.00.

INOD has been the topic of several recent research reports. BWS Financial upped their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a report on Friday, February 21st. Maxim Group upped their price target on Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Wedbush lowered their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday.

Innodata Trading Down 15.8%

Shares of NASDAQ INOD opened at $34.62 on Monday. The business has a fifty day moving average price of $38.73 and a 200 day moving average price of $39.87. Innodata has a 1-year low of $10.66 and a 1-year high of $71.00. 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 stock has a market capitalization of $1.10 billion, a P/E ratio of 40.73 and a beta of 2.75.

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, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $58.34 million for the quarter, compared to analyst estimates of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. Innodata's quarterly revenue was up 120.1% compared to the same quarter last year. Equities research analysts expect that Innodata will post 0.81 EPS for the current fiscal year.

Insider Activity

In related news, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares in the company, valued at approximately $1,171,620. This trade represents a 62.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nauman Sabeeh Toor sold 196,777 shares of Innodata stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, the director now owns 12,417 shares of the company's stock, valued at approximately $799,654.80. This trade represents a 94.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,427 shares of company stock valued at $17,790,794. Company insiders own 12.20% of the company's stock.

Hedge Funds Weigh In On Innodata

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP acquired a new position in shares of Innodata during the 4th quarter valued at $29,000. Creative Financial Designs Inc. ADV purchased a new position in Innodata in the 1st quarter valued at about $29,000. USA Financial Formulas purchased a new stake in shares of Innodata during the fourth quarter worth about $36,000. Meeder Asset Management Inc. purchased a new stake in Innodata during the 4th quarter worth approximately $36,000. Finally, AlphaQuest LLC increased its stake in shares of Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after buying an additional 456 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

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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