Innodata (NASDAQ:INOD) Trading Up 14.8% - Still a Buy?

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) traded up 14.8% during trading on Monday . The company traded as high as $44.09 and last traded at $44.97. 1,155,659 shares changed hands during trading, a decline of 21% from the average session volume of 1,465,903 shares. The stock had previously closed at $39.19.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Maxim Group lifted their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 21st. BWS Financial restated a "buy" rating and issued a $74.00 price objective on shares of Innodata in a research report on Monday. Finally, Wedbush lowered their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $55.00.

Innodata Stock Down 2.3%

The firm has a market cap of $1.38 billion, a PE ratio of 51.24 and a beta of 2.65. The stock has a 50-day simple moving average of $38.38 and a two-hundred day simple moving average of $40.95. 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 announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The business had revenue of $58.34 million for the quarter, compared to analysts' expectations of $57.64 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm's revenue for the quarter was up 120.1% compared to the same quarter last year. Analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Innodata

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP bought a new stake in Innodata during the 4th quarter valued at approximately $29,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Innodata during the first quarter valued at approximately $29,000. Meeder Asset Management Inc. purchased a new position in shares of Innodata in the fourth quarter worth $36,000. AlphaQuest LLC lifted its stake in 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 acquiring an additional 456 shares during the period. Finally, KBC Group NV purchased a new stake in Innodata in the first quarter worth approximately $52,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

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.