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

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.

Innodata Inc. (NASDAQ:INOD - Get Free Report) has earned an average rating of "Buy" from the five brokerages that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $55.00.

Separately, BWS Financial reissued 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 2.6%

NASDAQ:INOD opened at $62.56 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87. The firm has a 50-day moving average of $45.57 and a 200-day moving average of $42.64. The company has a market cap of $1.99 billion, a PE ratio of 50.45 and a beta of 2.58. Innodata has a one year low of $13.02 and a one year high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last posted its earnings results on Thursday, July 31st. The technology company reported $0.20 EPS for the quarter, topping the consensus estimate 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 net margin of 18.71% and a return on equity of 54.27%. Innodata's revenue was up 79.7% on a year-over-year basis. As a group, equities research analysts expect that Innodata will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in Innodata during the second quarter worth about $36,000. Creative Financial Designs Inc. ADV purchased a new position in Innodata during the first quarter worth about $29,000. Toth Financial Advisory Corp boosted its holdings in Innodata by 40.2% during the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company's stock worth $59,000 after purchasing an additional 330 shares during the last quarter. KBC Group NV purchased a new position in Innodata during the first quarter worth about $52,000. Finally, Pinnacle Investment Management Ltd purchased a new position in Innodata during the second quarter worth about $77,000. 30.75% of the stock is currently 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.

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