Innodata (NASDAQ:INOD) Sets New 12-Month High on Analyst Upgrade

Key Points

• Innodata shares surged to a new 52-week high after Wedbush raised its price target from $75 to $80 and kept an outperform rating. The stock traded as high as $95 and was last seen above $103.
• Analyst sentiment remains mixed but generally positive, with MarketBeat showing an average rating of “Moderate Buy” and an average target price of $95. Recent ratings ranged from a “hold” to a “top pick.”
• The company delivered a strong quarterly beat, reporting $0.42 EPS versus $0.08 expected and revenue of $90.1 million, up 54.5% year over year. Innodata also reported solid profitability metrics, including a 13.86% net margin and 37.49% return on equity.

Innodata Inc. (NASDAQ:INOD - Get Free Report) shares hit a new 52-week high on Monday after Wedbush raised their price target on the stock from $75.00 to $80.00. Wedbush currently has an outperform rating on the stock. Innodata traded as high as $95.00 and last traded at $103.6350, with a volume of 1015198 shares trading hands. The stock had previously closed at $84.89.

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

Institutional Investors Weigh In On Innodata

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Innodata in the third quarter worth $4,876,000. RFG Advisory LLC acquired a new stake in shares of Innodata in the fourth quarter worth $5,750,000. WINTON GROUP Ltd acquired a new stake in shares of Innodata in the third quarter worth $1,834,000. Penserra Capital Management LLC acquired a new stake in shares of Innodata in the third quarter worth $3,877,000. Finally, Principal Financial Group Inc. grew its stake in shares of Innodata by 70.0% in the third quarter. Principal Financial Group Inc. now owns 88,516 shares of the technology company's stock worth $6,822,000 after acquiring an additional 36,434 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Stock Performance

The firm's 50 day moving average price is $42.73 and its 200-day moving average price is $52.37. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 98.79 and a beta of 2.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.49 and a quick ratio of 2.49.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly 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. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The firm had revenue of $90.10 million for the quarter, compared to the consensus estimate of $76.47 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business's revenue was up 54.5% compared to the same quarter last year. On average, analysts anticipate that Innodata Inc. will post 0.93 earnings per share for the current year.

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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