Brokerages Set Innodata Inc. (NASDAQ:INOD) PT at $53.00

Shares of Innodata Inc. (NASDAQ:INOD) have received an average rating of “Buy” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $53.00.

INOD has been the subject of several research reports. Wedbush started coverage on Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. BWS Financial lifted their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Maxim Group boosted their price target on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Innodata in a report on Friday, December 13th.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP bought a new stake in Innodata during the fourth quarter valued at approximately $29,000. USA Financial Formulas purchased a new stake in shares of Innodata during the 4th quarter valued at $36,000. Meeder Asset Management Inc. bought a new stake in shares of Innodata during the 4th quarter worth $36,000. AlphaQuest LLC grew its position in Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after acquiring an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Innodata in the fourth quarter valued at $150,000. 30.75% of the stock is currently owned by institutional investors.

Innodata Stock Performance

NASDAQ INOD opened at $37.39 on Friday. The company has a market capitalization of $1.17 billion, a PE ratio of 43.99 and a beta of 2.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. Innodata has a 52-week low of $5.46 and a 52-week high of $71.00. The company has a 50-day simple moving average of $45.47 and a 200 day simple moving average of $35.52.

Innodata (NASDAQ:INOD) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $53.01 million. On average, research analysts predict 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.