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

Key Points

• Innodata Inc. (NASDAQ:INOD) has received a consensus recommendation of "Buy" from five research firms, with an average 12-month price target of $55.00.
• The company reported a 120.1% year-over-year increase in quarterly revenue, achieving $58.34 million while beating analysts' expectations.
• Innodata's stock has shown considerable volatility, with a 12-month trading range between $13.02 and $71.00, and currently trades around $49.20.

Innodata Inc. (NASDAQ:INOD - Get Free Report) has been given a consensus recommendation of "Buy" by the five analysts that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $55.00.

A number of analysts have recently issued reports on the stock. Wedbush dropped their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, May 9th. BWS Financial restated a "buy" rating and issued a $74.00 price objective on shares of Innodata in a report on Monday, June 16th.

Innodata Stock Down 1.7%

NASDAQ:INOD traded down $0.85 on Friday, hitting $48.60. The stock had a trading volume of 454,504 shares, compared to its average volume of 2,095,791. The firm's fifty day simple moving average is $45.85 and its two-hundred day simple moving average is $42.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.36 and a current ratio of 2.36. Innodata has a 1 year low of $13.02 and a 1 year high of $71.00. The stock has a market cap of $1.54 billion, a P/E ratio of 46.67 and a beta of 2.68.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. Innodata had a net margin of 17.53% and a return on equity of 55.38%. The business had revenue of $58.34 million during the quarter, compared to analyst estimates of $57.64 million. The firm's quarterly revenue was up 120.1% compared to the same quarter last year. Analysts predict that Innodata will post 0.81 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INOD. D. E. Shaw & Co. Inc. lifted its stake 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 worth $37,331,000 after buying an additional 892,663 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new position in shares of Innodata in the first quarter worth approximately $28,548,000. Wellington Management Group LLP lifted its stake 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 worth $28,470,000 after buying an additional 507,540 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Innodata in the fourth quarter worth approximately $16,713,000. Finally, Nuveen LLC bought a new position in shares of Innodata in the first quarter worth approximately $12,310,000. 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.