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

Innodata Inc. (NASDAQ:INOD) has received an average recommendation of “Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $38.20.

Several research firms have commented on INOD. BWS Financial lifted their price target on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. Chardan Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. Wedbush initiated coverage on shares of Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target on the stock. Finally, StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

Innodata Stock Performance

NASDAQ:INOD opened at $42.88 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 firm has a market cap of $1.24 billion, a PE ratio of 72.68 and a beta of 2.57. The firm has a 50 day simple moving average of $39.18 and a 200-day simple moving average of $27.56. Innodata has a 1-year low of $5.46 and a 1-year high of $55.17.

Innodata (NASDAQ:INOD) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.28. The business had revenue of $52.22 million for the quarter, compared to analysts’ expectations of $35.47 million. Innodata had a return on equity of 44.38% and a net margin of 14.57%. During the same quarter last year, the firm earned $0.01 earnings per share. On average, equities analysts expect that Innodata will post 0.62 EPS for the current year.

Insider Activity

In related news, Director Nauman Sabeeh Toor sold 110,207 shares of Innodata stock in a transaction on Friday, December 20th. The shares were sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the sale, the director now owns 209,194 shares of the company’s stock, valued at $9,204,536. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the transaction, the director now owns 25,262 shares in the company, valued at $1,024,374.10. This represents a 66.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,035,083 shares of company stock valued at $46,889,370. Company insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INOD. Marshall Wace LLP increased its holdings in Innodata by 83.9% during the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after purchasing an additional 38,954 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Innodata during the second quarter worth approximately $381,000. Compass Ion Advisors LLC increased its stake in shares of Innodata by 5.6% in the third quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock worth $632,000 after buying an additional 2,011 shares during the last quarter. Private Advisor Group LLC raised its holdings in Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in Innodata during the 3rd quarter valued at $311,000. Institutional investors and hedge funds 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.