Innodata (NASDAQ:INOD) Shares Gap Up - Should You Buy?

Innodata Inc. (NASDAQ:INOD - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $43.27, but opened at $45.00. Innodata shares last traded at $43.59, with a volume of 920,518 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INOD. BWS Financial boosted their target price on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Wedbush reduced their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Maxim Group raised their target price on Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Innodata Price Performance

The firm has a market cap of $1.35 billion, a PE ratio of 49.91 and a beta of 2.65. The firm's fifty day simple moving average is $37.78 and its two-hundred day simple moving average is $40.92. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company's quarterly revenue was up 120.1% compared to the same quarter last year. As a group, research analysts expect that Innodata Inc. will post 0.81 EPS for the current year.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new stake in Innodata during the 4th quarter valued at approximately $29,000. Creative Financial Designs Inc. ADV purchased a new stake in Innodata in the 1st quarter worth $29,000. Meeder Asset Management Inc. purchased a new stake in Innodata in the 4th quarter worth $36,000. AlphaQuest LLC boosted its holdings in shares of Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after purchasing an additional 456 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of Innodata during the first quarter valued at about $52,000. Institutional investors own 30.75% of the company's stock.

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.