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

Innodata Inc. (NASDAQ:INOD) has earned a consensus recommendation of “Buy” from the five analysts that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have covered the stock in the last year is $53.00.

A number of equities analysts have recently weighed in on the company. BWS Financial boosted their target price on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Chardan Capital reissued a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. Maxim Group raised their target price on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Wedbush started coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock.

Innodata Trading Down 3.4 %

NASDAQ INOD opened at $39.83 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $45.45 and a 200 day simple moving average of $35.21. Innodata has a 12 month low of $5.46 and a 12 month high of $71.00. The firm has a market capitalization of $1.25 billion, a P/E ratio of 46.86 and a beta of 2.59.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. On average, analysts predict that Innodata will post 0.81 EPS for the current fiscal year.

Insider Transactions at Innodata

In related news, COO Ashok Mishra sold 48,650 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the transaction, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,427 shares of company stock worth $17,790,794. 15.23% of the stock is owned by company insiders.

Institutional Trading of Innodata

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP bought a new stake in shares of Innodata during the fourth quarter valued at about $29,000. USA Financial Formulas bought a new stake in Innodata during the 4th quarter worth approximately $36,000. Meeder Asset Management Inc. purchased a new stake in Innodata in the 4th quarter worth approximately $36,000. AlphaQuest LLC lifted its stake in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after purchasing an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Innodata in the 4th quarter valued at $150,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.