Innodata (NASDAQ:INOD) Stock Price Expected to Rise, Maxim Group Analyst Says

Innodata (NASDAQ:INOD) had its target price hoisted by equities research analysts at Maxim Group from $54.00 to $75.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Maxim Group’s target price suggests a potential upside of 21.18% from the company’s current price.

Several other analysts have also commented on INOD. Wedbush initiated coverage on shares of Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. BWS Financial increased their price target on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Chardan Capital reissued a “buy” rating and set a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Innodata Stock Up 13.4 %

INOD stock opened at $61.89 on Friday. The company’s 50 day simple moving average is $41.60 and its 200-day simple moving average is $30.23. The firm has a market capitalization of $1.79 billion, a PE ratio of 72.81 and a beta of 2.57. Innodata has a 12 month low of $5.46 and a 12 month high of $71.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.11 by $0.20. The business had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. Equities analysts expect that Innodata will post 0.81 earnings per share for the current fiscal year.

Insider Activity at Innodata

In other Innodata news, CEO Jack Abuhoff sold 187,099 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.07, for a total transaction of $8,619,650.93. Following the transaction, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at $54,747,653.06. This trade represents a 13.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Ashok Mishra sold 58,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total transaction of $2,630,745.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 559,806 shares of company stock valued at $25,353,904. Company insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new position in Innodata during the third quarter worth approximately $311,000. Jennison Associates LLC purchased a new position in Innodata during the fourth quarter worth approximately $402,000. Los Angeles Capital Management LLC purchased a new position in Innodata during the third quarter worth approximately $330,000. Geode Capital Management LLC raised its stake in shares of Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after acquiring an additional 13,609 shares during the period. Finally, Silverleafe Capital Partners LLC purchased a new position in shares of Innodata in the 4th quarter valued at $913,000. 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.