Innodata (NASDAQ:INOD) Price Target Raised to $110.00

Key Points

• BWS Financial has raised the price target for Innodata (NASDAQ:INOD) from $74.00 to $110.00, indicating a potential upside of 20.54% from its current stock price.
• Innodata reported earnings per share (EPS) of $0.20 for its last quarter, exceeding analyst estimates of $0.11, with a significant revenue increase of 79.7% year-over-year.
• The stock is rated as a "Moderate Buy" by analysts, with four buy ratings and one hold rating, while current market sentiment shows a shift in positions among large investors.

Innodata (NASDAQ:INOD - Get Free Report) had its price target hoisted by BWS Financial from $74.00 to $110.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. BWS Financial's price objective would suggest a potential upside of 20.54% from the stock's current price.

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Innodata in a report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

Innodata Stock Performance

Shares of NASDAQ:INOD traded down $0.48 during midday trading on Friday, reaching $91.25. 357,651 shares of the company traded hands, compared to its average volume of 2,220,358. Innodata has a 12 month low of $15.33 and a 12 month high of $93.85. The firm's fifty day moving average price is $55.92 and its two-hundred day moving average price is $46.64. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 73.60 and a beta of 2.96.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings data 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. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The firm had revenue of $58.39 million during the quarter, compared to analysts' expectations of $56.35 million. Innodata's revenue was up 79.7% compared to the same quarter last year. On average, equities analysts expect that Innodata will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Innodata

Several large investors have recently made changes to their positions in INOD. Vanguard Group Inc. lifted its position 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 worth $63,197,000 after buying an additional 120,630 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in shares of Innodata in the 1st quarter valued at approximately $28,548,000. Wellington Management Group LLP lifted its stake in shares of Innodata by 177.8% in the 1st quarter. Wellington Management Group LLP now owns 793,041 shares of the technology company's stock valued at $28,470,000 after purchasing an additional 507,540 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Innodata by 11.0% in the 2nd quarter. Geode Capital Management LLC now owns 700,217 shares of the technology company's stock valued at $35,869,000 after purchasing an additional 69,475 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its stake in shares of Innodata by 34.3% in the 1st quarter. Driehaus Capital Management LLC now owns 567,866 shares of the technology company's stock valued at $20,386,000 after purchasing an additional 144,972 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other 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.

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