Analysts Set Innodata Inc. (NASDAQ:INOD) Price Target at $38.20

Innodata Inc. (NASDAQ:INOD) has earned an average rating of “Buy” from the five analysts that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.20.

Several research analysts have issued reports on INOD shares. Chardan Capital restated a “buy” rating and set a $45.00 price target on shares of Innodata in a report on Friday, December 13th. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. BWS Financial lifted their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Wedbush assumed coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company.

Innodata Stock Down 0.9 %

Shares of NASDAQ INOD opened at $36.74 on Friday. The company has a 50 day simple moving average of $39.34 and a 200 day simple moving average of $27.12. The firm has a market cap of $1.07 billion, a PE ratio of 62.27 and a beta of 2.57. Innodata has a 1 year low of $5.46 and a 1 year high of $55.17. 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, November 7th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.28. Innodata had a net margin of 14.57% and a return on equity of 44.38%. The firm had revenue of $52.22 million during the quarter, compared to analyst estimates of $35.47 million. During the same quarter last year, the business earned $0.01 EPS. On average, research analysts forecast that Innodata will post 0.62 EPS for the current year.

Insider Buying and Selling at Innodata

In other Innodata news, COO Ashok Mishra sold 92,726 shares of Innodata stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $43.16, for a total transaction of $4,002,054.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Marissa B. Espineli sold 38,333 shares of Innodata stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $47.17, for a total transaction of $1,808,167.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,035,083 shares of company stock worth $46,889,370. 15.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Innodata

Hedge funds have recently bought and sold shares of the company. Marshall Wace LLP boosted its holdings in shares of Innodata by 83.9% in the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after buying an additional 38,954 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Innodata in the 2nd quarter worth about $381,000. Compass Ion Advisors LLC boosted its holdings in shares of Innodata by 5.6% in the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock worth $632,000 after buying an additional 2,011 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Innodata by 17.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after buying an additional 2,207 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Innodata in the 3rd quarter worth about $311,000. 30.75% of the stock is owned by hedge funds and other 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.