Inovalon (INOV) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Inovalon (NASDAQ:INOV) from a hold rating to a buy rating in a research report released on Friday, ValuEngine reports.

Several other research firms also recently weighed in on INOV. BidaskClub raised Inovalon from a hold rating to a buy rating in a report on Wednesday, February 20th. Zacks Investment Research downgraded Inovalon from a buy rating to a hold rating in a report on Wednesday, January 9th. Finally, SunTrust Banks began coverage on Inovalon in a report on Friday, February 15th. They set a buy rating and a $22.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $15.50.

NASDAQ INOV opened at $13.69 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.93 and a current ratio of 1.93. Inovalon has a twelve month low of $8.90 and a twelve month high of $15.57. The firm has a market cap of $2.09 billion, a P/E ratio of 76.06, a PEG ratio of 2.96 and a beta of 0.67.

Inovalon (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, February 20th. The technology company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). Inovalon had a negative net margin of 7.32% and a positive return on equity of 3.88%. The firm had revenue of $136.30 million for the quarter, compared to analyst estimates of $145.20 million. During the same period last year, the business earned $0.06 EPS. The company’s revenue was up 18.9% compared to the same quarter last year. On average, analysts forecast that Inovalon will post 0.33 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. We Are One Seven LLC bought a new position in Inovalon during the 4th quarter worth $40,000. FNY Investment Advisers LLC bought a new position in Inovalon during the 1st quarter worth $37,000. Cutler Group LP raised its position in Inovalon by 900.0% during the 4th quarter. Cutler Group LP now owns 6,000 shares of the technology company’s stock worth $85,000 after purchasing an additional 5,400 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Inovalon during the 4th quarter worth $160,000. Finally, Amalgamated Bank bought a new position in Inovalon during the 4th quarter worth $146,000. 33.52% of the stock is currently owned by institutional investors.

About Inovalon

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.

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