Inovalon (NASDAQ:INOV) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Inovalon (NASDAQ:INOV) from a hold rating to a buy rating in a research report released on Saturday morning, BidAskClub reports.

Several other equities research analysts have also commented on the stock. SunTrust Banks set a $22.00 price target on shares of Inovalon and gave the company a buy rating in a report on Monday, September 23rd. Piper Jaffray Companies upped their price target on shares of Inovalon from $10.00 to $12.00 and gave the company an underweight rating in a report on Thursday, October 31st. Citigroup initiated coverage on shares of Inovalon in a report on Wednesday, October 16th. They issued a buy rating and a $21.00 price target on the stock. Zacks Investment Research lowered shares of Inovalon from a strong-buy rating to a hold rating in a report on Wednesday, November 6th. Finally, ValuEngine raised shares of Inovalon from a sell rating to a hold rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $18.20.

Shares of INOV opened at $18.29 on Friday. The firm has a market capitalization of $2.86 billion, a PE ratio of 101.61, a price-to-earnings-growth ratio of 5.54 and a beta of 0.57. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.28 and a quick ratio of 2.28. Inovalon has a 1-year low of $11.34 and a 1-year high of $18.85. The company’s fifty day moving average price is $15.98 and its 200-day moving average price is $15.44.

Inovalon (NASDAQ:INOV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Inovalon had a negative net margin of 1.37% and a positive return on equity of 7.11%. The company had revenue of $166.50 million for the quarter, compared to analyst estimates of $164.92 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. As a group, research analysts anticipate that Inovalon will post 0.42 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Isthmus Partners LLC boosted its stake in shares of Inovalon by 516.8% during the 2nd quarter. Isthmus Partners LLC now owns 95,777 shares of the technology company’s stock worth $1,390,000 after acquiring an additional 80,250 shares in the last quarter. We Are One Seven LLC acquired a new position in shares of Inovalon during the 2nd quarter worth about $393,000. Bernzott Capital Advisors acquired a new position in shares of Inovalon during the 2nd quarter worth about $20,519,000. First Trust Advisors LP acquired a new position in shares of Inovalon during the 2nd quarter worth about $2,309,000. Finally, Aperio Group LLC raised its position in shares of Inovalon by 10.0% during the 2nd quarter. Aperio Group LLC now owns 20,321 shares of the technology company’s stock worth $295,000 after purchasing an additional 1,848 shares during the last quarter. 33.83% of the stock is currently owned by institutional investors.

Inovalon Company Profile

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.

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