Innodata (NASDAQ:INOD) Trading Up 7.6% – Should You Buy?

Innodata Inc. (NASDAQ:INOD) shares were up 7.6% on Monday . The company traded as high as $43.90 and last traded at $42.46. Approximately 1,222,086 shares changed hands during trading, a decline of 11% from the average daily volume of 1,377,017 shares. The stock had previously closed at $39.47.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BWS Financial increased their price objective on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Wedbush decreased their price target on Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Finally, Maxim Group lifted their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Innodata Stock Performance

The stock has a market cap of $1.41 billion, a P/E ratio of 52.09 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. The company has a fifty day moving average of $36.47 and a 200 day moving average of $40.82.

Innodata (NASDAQ:INOD) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The company had revenue of $58.34 million for the quarter, compared to analysts’ expectations of $57.64 million. The firm’s revenue for the quarter was up 120.1% on a year-over-year basis. On average, equities analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Spire Wealth Management bought a new position in shares of Innodata during the 4th quarter valued at about $166,000. Jennison Associates LLC acquired a new stake in Innodata during the fourth quarter valued at approximately $402,000. Calamos Advisors LLC acquired a new stake in Innodata during the fourth quarter valued at approximately $283,000. Allworth Financial LP bought a new stake in Innodata during the fourth quarter worth approximately $29,000. Finally, Principal Financial Group Inc. boosted its holdings in Innodata by 9.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company’s stock worth $806,000 after buying an additional 1,828 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

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.