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

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

Several brokerages have recently weighed in on INOD. BWS Financial upped their price target on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. 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. Finally, Wedbush lowered their price objective on Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, May 9th.

Innodata Price Performance

INOD opened at $43.27 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. 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 firm’s fifty day moving average price is $37.52 and its two-hundred day moving average price is $40.91. 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 EPS for the quarter, topping 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 company had revenue of $58.34 million for the quarter, compared to analysts’ expectations of $57.64 million. The firm’s revenue was up 120.1% compared to the same quarter last year. As a group, analysts anticipate that Innodata will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innodata

A number of institutional investors and hedge funds have recently modified their holdings of INOD. Spire Wealth Management bought a new stake in Innodata during the 4th quarter valued at $166,000. Jennison Associates LLC acquired a new position in Innodata during the 4th quarter valued at about $402,000. Calamos Advisors LLC acquired a new position in Innodata during the 4th quarter valued at about $283,000. Allworth Financial LP acquired a new position in Innodata during the 4th quarter valued at about $29,000. Finally, Principal Financial Group Inc. grew its stake in Innodata by 9.9% during the 4th quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company’s stock valued at $806,000 after purchasing an additional 1,828 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.