$194.47 Million in Sales Expected for Inovalon Holdings, Inc. (NASDAQ:INOV) This Quarter

Equities analysts expect that Inovalon Holdings, Inc. (NASDAQ:INOV) will report sales of $194.47 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Inovalon’s earnings, with the lowest sales estimate coming in at $192.70 million and the highest estimate coming in at $195.40 million. Inovalon reported sales of $161.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 20.5%. The firm is scheduled to announce its next earnings results on Wednesday, October 27th.

On average, analysts expect that Inovalon will report full-year sales of $770.75 million for the current fiscal year, with estimates ranging from $767.81 million to $775.90 million. For the next fiscal year, analysts anticipate that the business will post sales of $862.13 million, with estimates ranging from $829.23 million to $885.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Inovalon.

Inovalon (NASDAQ:INOV) last issued its quarterly earnings data on Wednesday, July 28th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02. The business had revenue of $190.44 million during the quarter, compared to the consensus estimate of $183.89 million. Inovalon had a net margin of 5.55% and a return on equity of 11.72%.

A number of analysts have issued reports on INOV shares. BTIG Research downgraded Inovalon from a “buy” rating to a “neutral” rating in a research report on Thursday, August 19th. Piper Sandler raised Inovalon from an “underweight” rating to a “neutral” rating in a report on Thursday, August 26th. SVB Leerink downgraded shares of Inovalon from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $45.00 to $41.00 in a report on Thursday, August 19th. Robert W. Baird downgraded shares of Inovalon from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 19th. Finally, Zacks Investment Research cut shares of Inovalon from a “hold” rating to a “sell” rating in a research note on Tuesday, August 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Inovalon currently has a consensus rating of “Hold” and an average target price of $32.86.

Shares of NASDAQ:INOV traded down $0.02 during mid-day trading on Friday, reaching $40.39. The company had a trading volume of 2,223,429 shares, compared to its average volume of 685,153. Inovalon has a one year low of $17.56 and a one year high of $40.99. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.21. The company’s 50-day moving average price is $37.88 and its 200-day moving average price is $32.86. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 149.60, a PEG ratio of 2.60 and a beta of 0.59.

A number of large investors have recently modified their holdings of INOV. Eaton Vance Management lifted its stake in Inovalon by 243.8% during the first quarter. Eaton Vance Management now owns 2,350,167 shares of the technology company’s stock worth $67,638,000 after purchasing an additional 1,666,534 shares during the last quarter. Oak Ridge Investments LLC purchased a new position in shares of Inovalon during the first quarter worth approximately $46,906,000. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Inovalon by 77.8% in the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 3,255,534 shares of the technology company’s stock worth $110,949,000 after acquiring an additional 1,424,789 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Inovalon by 241.3% in the 1st quarter. Royal Bank of Canada now owns 992,763 shares of the technology company’s stock valued at $28,572,000 after purchasing an additional 701,883 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Inovalon by 241.8% during the 2nd quarter. Millennium Management LLC now owns 735,237 shares of the technology company’s stock valued at $25,057,000 after purchasing an additional 520,104 shares during the last quarter. 35.82% of the stock is owned by institutional investors.

Inovalon Company Profile

Inovalon Holdings, Inc engages in the development of cloud-based platforms for the healthcare industry. Its products include datasets, integration technologies, predictive analytics, and related services. The company was founded in 1998 and is headquartered in Bowie, MD.

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