Innodata (NASDAQ:INOD) Stock Price Up 11.2% - Still a Buy?

Innodata Inc. (NASDAQ:INOD - Get Free Report) shares shot up 11.2% during trading on Thursday . The stock traded as high as $51.20 and last traded at $51.61. 2,165,674 shares traded hands during trading, an increase of 41% from the average session volume of 1,539,681 shares. The stock had previously closed at $46.39.

Wall Street Analyst Weigh In

INOD has been the topic of several research reports. BWS Financial reaffirmed a "buy" rating and issued a $74.00 target price on shares of Innodata in a report on Monday, June 16th. Wedbush cut their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Innodata has an average rating of "Moderate Buy" and a consensus target price of $55.00.

Innodata Price Performance

The firm's 50-day moving average price is $39.82 and its 200-day moving average price is $41.14. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.65 billion, a PE ratio of 49.96 and a beta of 2.65.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. Innodata had a net margin of 17.53% and a return on equity of 55.38%. The company had revenue of $58.34 million during the quarter, compared to analyst estimates of $57.64 million. Innodata's revenue was up 120.1% compared to the same quarter last year. On average, equities analysts forecast that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP bought a new stake in Innodata during the 4th quarter valued at about $29,000. Principal Financial Group Inc. grew its stake in Innodata by 9.9% in the fourth quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company's stock worth $806,000 after purchasing an additional 1,828 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Innodata by 30.7% during the 4th quarter. Bank of New York Mellon Corp now owns 72,226 shares of the technology company's stock worth $2,854,000 after purchasing an additional 16,961 shares during the period. SBI Securities Co. Ltd. bought a new stake in Innodata during the 4th quarter valued at $150,000. Finally, Raymond James Financial Inc. bought a new stake in Innodata during the 4th quarter valued at $483,000. 30.75% of the stock is currently owned by institutional investors.

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.

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