Innodata Inc. (NASDAQ:INOD) Given Consensus Rating of “Moderate Buy” by Brokerages

Innodata Inc. (NASDAQ:INOD) has been given a consensus rating of “Moderate Buy” by the five analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $72.00.

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Innodata in a report on Saturday, September 27th. BWS Financial upped their target price on shares of Innodata from $74.00 to $110.00 and gave the company a “buy” rating in a report on Friday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Innodata by 7.4% during the first quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company’s stock worth $63,197,000 after acquiring an additional 120,630 shares during the period. Boston Family Office LLC acquired a new position in shares of Innodata during the first quarter worth about $589,000. American Century Companies Inc. increased its stake in shares of Innodata by 36.2% during the first quarter. American Century Companies Inc. now owns 63,088 shares of the technology company’s stock worth $2,265,000 after acquiring an additional 16,781 shares during the period. Virtu Financial LLC acquired a new position in shares of Innodata during the first quarter worth about $1,476,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Innodata by 63.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,471 shares of the technology company’s stock worth $843,000 after acquiring an additional 9,142 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Price Performance

Shares of INOD opened at $81.68 on Thursday. The firm has a fifty day moving average price of $57.43 and a 200 day moving average price of $47.31. Innodata has a 1-year low of $16.55 and a 1-year high of $93.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87. The stock has a market cap of $2.60 billion, a PE ratio of 65.87 and a beta of 2.96.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, July 31st. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The business had revenue of $58.39 million during the quarter, compared to analysts’ expectations of $56.35 million. Innodata’s revenue was up 79.7% compared to the same quarter last year. As a group, sell-side analysts anticipate 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.