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

Key Points

• Innodata Inc. has received a consensus rating of "Buy" from five brokerages, with an average twelve-month price target of $55.00.
• Institutional investors have significantly increased their stakes, with Wells Fargo boosting its share ownership by 256.4% in the fourth quarter alone.
• Innodata reported a strong earnings performance with an EPS of $0.20, exceeding estimates of $0.11, and a 79.7% year-over-year revenue growth.

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) have received an average rating of "Buy" from the five analysts that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $55.00.

Several research firms have recently weighed in on INOD. Wedbush decreased their target price on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. BWS Financial reiterated a "buy" rating and set a $74.00 target price on shares of Innodata in a research report on Monday, June 16th.

Innodata Trading Up 2.0%

INOD traded up $0.74 during trading on Wednesday, reaching $38.48. The company had a trading volume of 1,512,287 shares, compared to its average volume of 2,724,791. The stock has a market cap of $1.23 billion, a P/E ratio of 31.03 and a beta of 2.75. The business has a 50 day simple moving average of $46.47 and a 200-day simple moving average of $43.42. Innodata has a 52 week low of $13.02 and a 52 week high of $71.00. The company has a quick ratio of 2.87, a current 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 (EPS) 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 the consensus estimate of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.Innodata's quarterly revenue was up 79.7% on a year-over-year basis. On average, equities analysts anticipate that Innodata will post 0.81 EPS for the current fiscal year.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Innodata by 7.4% in the first quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company's stock valued at $63,197,000 after acquiring an additional 120,630 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Innodata by 1,718.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock valued at $37,331,000 after acquiring an additional 892,663 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in shares of Innodata in the first quarter valued at about $28,548,000. Wellington Management Group LLP raised its holdings in shares of Innodata by 177.8% in the first quarter. Wellington Management Group LLP now owns 793,041 shares of the technology company's stock valued at $28,470,000 after acquiring an additional 507,540 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Innodata by 11.0% in the second quarter. Geode Capital Management LLC now owns 700,217 shares of the technology company's stock valued at $35,869,000 after acquiring an additional 69,475 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

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.