Brokerages Set Innodata Inc. (NASDAQ:INOD) Target Price at $55.00

Key Points

• Innodata Inc. has received an average rating of "Buy" from five analysts, with a twelve-month price target of $55.00.
• The company reported an EPS of $0.20 for the latest quarter, exceeding estimates, with revenue up 79.7% year-over-year.
• Institutional investors have been actively buying shares, with hedge funds and other institutions owning 30.75% of the stock.

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) have been assigned a consensus rating of "Buy" from the four brokerages that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $63.00.

Separately, BWS Financial reiterated a "buy" rating and issued a $74.00 price objective on shares of Innodata in a report on Monday, June 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INOD. Creative Financial Designs Inc. ADV purchased a new position in shares of Innodata in the 1st quarter valued at about $29,000. Farther Finance Advisors LLC purchased a new position in shares of Innodata in the 2nd quarter valued at about $36,000. KBC Group NV purchased a new position in shares of Innodata in the 1st quarter valued at about $52,000. Toth Financial Advisory Corp increased its holdings in shares of Innodata by 40.2% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company's stock valued at $59,000 after acquiring an additional 330 shares during the last quarter. Finally, Motco purchased a new position in shares of Innodata in the 1st quarter valued at about $72,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Innodata Stock Up 4.4%

NASDAQ INOD traded up $2.96 during trading hours on Friday, hitting $69.91. 2,936,351 shares of the company were exchanged, compared to its average volume of 2,491,467. The company has a 50 day moving average of $46.80 and a two-hundred day moving average of $43.12. 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 has a 52-week low of $13.02 and a 52-week high of $73.79. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 56.38 and a beta of 2.58.

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 for the quarter, topping the consensus estimate of $0.11 by $0.09. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The company had revenue of $58.39 million for the quarter, compared to the consensus estimate of $56.35 million. The company's revenue for the quarter was up 79.7% on a year-over-year basis. Equities research analysts anticipate that Innodata will post 0.81 earnings per share for the current year.

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.