Innodata’s (INOD) “Buy” Rating Reiterated at BWS Financial

BWS Financial reiterated their buy rating on shares of Innodata (NASDAQ:INOD) in a research note released on Monday,Benzinga reports. They currently have a $74.00 price objective on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Maxim Group upped their target price on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wedbush cut their target price on Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Innodata Trading Up 6.4%

Shares of INOD stock opened at $46.33 on Monday. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.47 billion, a P/E ratio of 44.55 and a beta of 2.65. The stock has a 50 day simple moving average of $38.69 and a 200 day simple moving average of $41.01. Innodata has a 1 year low of $12.67 and a 1 year high of $71.00.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. Innodata had a return on equity of 55.38% and a net margin of 17.53%. The firm had revenue of $58.34 million during the quarter, compared to analysts’ expectations of $57.64 million. Innodata’s revenue was up 120.1% compared to the same quarter last year. On average, research analysts predict that Innodata will post 0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Invesco Ltd. lifted its stake in shares of Innodata by 2.0% in the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company’s stock valued at $466,000 after acquiring an additional 232 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Innodata by 2.7% in the fourth quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company’s stock valued at $447,000 after purchasing an additional 300 shares during the period. AlphaQuest LLC increased its holdings in Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after purchasing an additional 456 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Innodata by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company’s stock valued at $608,000 after purchasing an additional 533 shares during the period. Finally, Allworth Financial LP acquired a new stake in Innodata in the fourth quarter valued at $29,000. 30.75% of the stock is currently owned by institutional investors.

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.