Innodata (NASDAQ:INOD) Sets New 1-Year High - What's Next?

Key Points

• Innodata's stock price reached a new 52-week high of $90.17, closing at $88.28 with a trading volume of 311,667 shares.
• The company reported earnings of $0.20 per share, exceeding the consensus estimate of $0.11, with revenues increasing by 79.7% year-over-year to $58.39 million.
• Analysts have a consensus rating of "Moderate Buy" for Innodata, with a price target average of $63.00, while BWS Financial maintains a "buy" rating with a price target of $74.00.

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $90.17 and last traded at $88.28, with a volume of 311667 shares changing hands. The stock had previously closed at $87.27.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INOD. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Innodata in a research note on Saturday, September 27th. BWS Financial reiterated a "buy" rating and issued a $74.00 price target on shares of Innodata in a research note on Monday, June 16th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Innodata currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

Innodata Trading Down 1.7%

The stock has a 50 day simple moving average of $53.49 and a 200-day simple moving average of $45.71. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.73 billion, a P/E ratio of 69.86 and a beta of 2.96.

Innodata (NASDAQ:INOD - Get Free Report) last announced its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The company had revenue of $58.39 million during the quarter, compared to analyst estimates of $56.35 million. The firm's revenue for the quarter was up 79.7% compared to the same quarter last year. On average, equities research analysts forecast that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Innodata

Several institutional investors and hedge funds have recently bought and sold shares of INOD. Farther Finance Advisors LLC purchased a new stake in Innodata in the second quarter worth about $36,000. Creative Financial Designs Inc. ADV bought a new position in shares of Innodata during the 1st quarter valued at approximately $29,000. Toth Financial Advisory Corp grew its stake in shares of Innodata by 40.2% during 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 period. KBC Group NV purchased a new stake in Innodata in the 1st quarter worth approximately $52,000. Finally, Pinnacle Investment Management Ltd bought a new stake in Innodata during the 2nd quarter worth approximately $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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