Innodata Inc. (NASDAQ:INOD) Receives $55.00 Average Target Price from Analysts

Shares of Innodata Inc. (NASDAQ:INOD) have earned a consensus rating of “Buy” from the five research firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is $55.00.

A number of analysts have recently issued reports on INOD shares. Maxim Group raised their price target on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Wedbush dropped their price target on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Finally, BWS Financial lifted their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st.

Insider Buying and Selling

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the transaction, the director now owns 12,417 shares of the company’s stock, valued at approximately $799,654.80. This trade represents a 94.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now directly owns 18,000 shares of the company’s stock, valued at $1,171,620. The trade was a 62.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,427 shares of company stock worth $17,790,794. 12.20% of the stock is owned by insiders.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP acquired a new position in shares of Innodata during the 4th quarter worth $29,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Innodata in the 1st quarter valued at $29,000. USA Financial Formulas acquired a new position in shares of Innodata in the 4th quarter valued at $36,000. Meeder Asset Management Inc. acquired a new stake in shares of Innodata during the 4th quarter worth about $36,000. Finally, AlphaQuest LLC increased its holdings in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

Innodata Trading Up 3.8%

INOD opened at $36.73 on Monday. The company’s 50 day simple moving average is $37.70 and its two-hundred day simple moving average is $40.40. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 43.21 and a beta of 2.75. 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 has a 1-year low of $11.87 and a 1-year high of $71.00.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business’s quarterly revenue was up 120.1% compared to the same quarter last year. Analysts expect that Innodata will post 0.81 EPS for the current fiscal year.

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.