Innodata Inc. (NASDAQ:INOD) Receives Consensus Rating of “Buy” from Analysts

Shares of Innodata Inc. (NASDAQ:INOD) have been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $55.00.

INOD has been the subject of several research analyst reports. Wedbush lowered their price objective on Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, May 9th. BWS Financial reissued a “buy” rating and issued a $74.00 price objective on shares of Innodata in a report on Monday, June 16th.

Institutional Trading of Innodata

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in Innodata by 256.4% in the fourth quarter. Wells Fargo & Company MN now owns 61,954 shares of the technology company’s stock valued at $2,448,000 after acquiring an additional 44,573 shares during the period. Russell Investments Group Ltd. boosted its stake in Innodata by 2,465.7% in the fourth quarter. Russell Investments Group Ltd. now owns 6,286 shares of the technology company’s stock valued at $248,000 after acquiring an additional 6,041 shares during the period. Invesco Ltd. boosted its stake in Innodata by 2.0% in the fourth 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 period. Raymond James Financial Inc. acquired a new position in Innodata in the fourth quarter valued at approximately $483,000. Finally, Barclays PLC boosted its stake in Innodata by 11.1% in the fourth quarter. Barclays PLC now owns 42,848 shares of the technology company’s stock valued at $1,693,000 after acquiring an additional 4,291 shares during the period. 30.75% of the stock is owned by institutional investors.

Innodata Stock Down 2.7%

Shares of NASDAQ INOD opened at $38.50 on Wednesday. Innodata has a 1 year low of $13.02 and a 1 year high of $71.00. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 31.05 and a beta of 2.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. The stock’s 50-day simple moving average is $46.67 and its 200-day simple moving average is $43.45.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The business had revenue of $58.39 million for the quarter, compared to analyst estimates of $56.35 million. The firm’s revenue was up 79.7% on a year-over-year basis. As a group, equities analysts anticipate that Innodata will post 0.81 earnings per share 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.