Wedbush Comments on Innodata’s FY2024 Earnings (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD) – Wedbush issued their FY2024 earnings estimates for Innodata in a research report issued on Thursday, December 19th. Wedbush analyst D. Ives anticipates that the technology company will post earnings of $0.64 per share for the year. Wedbush has a “Outperform” rating and a $48.00 price objective on the stock. The consensus estimate for Innodata’s current full-year earnings is $0.59 per share. Wedbush also issued estimates for Innodata’s Q4 2024 earnings at $0.22 EPS, Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.19 EPS and FY2025 earnings at $0.82 EPS.

Several other equities research analysts also recently weighed in on INOD. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Craig Hallum initiated coverage on Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. Chardan Capital reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. Finally, BWS Financial boosted their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Innodata has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Innodata Stock Up 8.2 %

Shares of Innodata stock opened at $43.01 on Monday. Innodata has a twelve month low of $5.46 and a twelve month high of $55.17. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 72.90 and a beta of 2.56. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $33.10 and a 200 day moving average price of $22.22.

Insiders Place Their Bets

In other news, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the transaction, the director now owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jack Abuhoff sold 225,000 shares of Innodata stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $46.38, for a total value of $10,435,500.00. Following the completion of the transaction, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at $55,116,044.04. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 924,876 shares of company stock worth $42,040,262 in the last three months. 15.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C increased its holdings in shares of Innodata by 309.5% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock valued at $1,658,000 after acquiring an additional 84,509 shares during the last quarter. Rathbones Group PLC acquired a new stake in shares of Innodata during the second quarter worth $916,000. Marshall Wace LLP raised its holdings in shares of Innodata by 83.9% during the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after purchasing an additional 38,954 shares during the period. Barclays PLC lifted its position in shares of Innodata by 324.3% in the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after buying an additional 29,470 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Innodata in the 2nd quarter valued at about $381,000. 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.