Brokerages Set Innodata Inc. (NASDAQ:INOD) Target Price at $55.00

Shares of Innodata Inc. (NASDAQ:INOD) have been given an average rating of “Buy” by the five analysts that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $55.00.

Several research firms recently commented on INOD. BWS Financial increased their price target on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 21st. Maxim Group increased their price target on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Wedbush cut their price target on Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, May 9th.

Institutional Trading of Innodata

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp boosted its holdings in Innodata by 9.9% in the 4th quarter. Northern Trust Corp now owns 252,753 shares of the technology company’s stock valued at $9,989,000 after purchasing an additional 22,808 shares in the last quarter. Strong Tower Advisory Services purchased a new stake in Innodata in the 1st quarter valued at approximately $835,000. Jennison Associates LLC purchased a new stake in Innodata in the 4th quarter valued at approximately $402,000. Palisades Investment Partners LLC boosted its holdings in Innodata by 6.1% in the 4th quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company’s stock valued at $14,569,000 after purchasing an additional 21,093 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Innodata by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after purchasing an additional 117,000 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Stock Down 11.1%

Shares of INOD opened at $43.27 on Friday. Innodata has a 52 week low of $12.67 and a 52 week high of $71.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 50.91 and a beta of 2.65. The stock’s 50-day moving average price is $37.52 and its 200-day moving average price is $40.91.

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

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.