Innodata (NASDAQ:INOD) Price Target Raised to $80.00

Key Points

• Wedbush raised its price target for Innodata from $75 to $80 and kept an "outperform" rating, though that target implies about an 8% downside from the stock's recent trade near $87; the consensus from analysts is a "Moderate Buy" with an average target of $95.
• Innodata posted a strong quarter, reporting $0.42 EPS vs. $0.08 expected and $90.1M in revenue (up 54.5% YoY), with a 12.8% net margin and 35.1% return on equity.
• Shares jumped on heavy volume, trading $87 with 9.53M shares exchanged versus an average of 1.27M; the stock has a $2.84B market cap, a 52-week range of $31.90–$93.85 and a beta of 2.40, signaling elevated volatility.

Innodata (NASDAQ:INOD - Get Free Report) had its price objective increased by Wedbush from $75.00 to $80.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Wedbush's target price indicates a potential downside of 8.05% from the stock's current price.

Other equities analysts have also issued reports about the stock. BWS Financial restated a "top pick" rating and issued a $110.00 price objective on shares of Innodata in a research report on Friday, April 10th. Wall Street Zen upgraded shares of Innodata from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Innodata in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.00.

Innodata Stock Performance

NASDAQ:INOD traded up $41.36 on Friday, reaching $87.00. 9,531,325 shares of the company's stock were exchanged, compared to its average volume of 1,274,228. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 94.69 and a beta of 2.40. Innodata has a 52 week low of $31.90 and a 52 week high of $93.85. The stock has a fifty day simple moving average of $42.73 and a 200-day simple moving average of $52.37.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.34. The firm had revenue of $90.10 million during the quarter, compared to analyst estimates of $76.47 million. Innodata had a net margin of 12.79% and a return on equity of 35.12%. The company's quarterly revenue was up 54.5% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. As a group, sell-side analysts predict that Innodata will post 0.93 earnings per share for the current year.

Institutional Investors Weigh In On Innodata

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System raised its stake in Innodata by 2.4% in the third quarter. Arizona State Retirement System now owns 9,386 shares of the technology company's stock valued at $723,000 after purchasing an additional 217 shares in the last quarter. New York State Teachers Retirement System raised its stake in Innodata by 11.2% in the third quarter. New York State Teachers Retirement System now owns 2,747 shares of the technology company's stock valued at $212,000 after purchasing an additional 277 shares in the last quarter. Prosperity Wealth Management Inc. raised its stake in Innodata by 4.0% in the third quarter. Prosperity Wealth Management Inc. now owns 10,500 shares of the technology company's stock valued at $809,000 after purchasing an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Innodata by 5.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,703 shares of the technology company's stock valued at $392,000 after purchasing an additional 418 shares in the last quarter. Finally, Texas Yale Capital Corp. raised its stake in Innodata by 5.5% in the fourth quarter. Texas Yale Capital Corp. now owns 8,440 shares of the technology company's stock valued at $430,000 after purchasing an additional 440 shares in the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Company Profile

Innodata Inc NASDAQ: INOD is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata's platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm's offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.

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