Maxim Group Forecasts Strong Price Appreciation for Innodata (NASDAQ:INOD) Stock

Innodata (NASDAQ:INOD) had its price objective boosted by Maxim Group from $54.00 to $75.00 in a report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on INOD. Wedbush began coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target for the company. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Chardan Capital reissued a “buy” rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. Finally, BWS Financial boosted their price target on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Innodata presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Price Performance

Innodata stock opened at $61.89 on Friday. The stock has a fifty day moving average of $41.05 and a 200-day moving average of $29.81. The stock has a market capitalization of $1.79 billion, a P/E ratio of 104.90 and a beta of 2.57. 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.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 14.57% and a return on equity of 44.38%. The business had revenue of $59.18 million for the quarter, compared to the consensus estimate of $53.01 million. On average, sell-side analysts expect that Innodata will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Innodata

In other Innodata news, Director Nauman Sabeeh Toor sold 110,207 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the sale, the director now directly owns 209,194 shares in the company, valued at $9,204,536. This represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Louise C. Forlenza sold 4,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.10, for a total transaction of $180,400.00. Following the transaction, the director now owns 8,278 shares of the company’s stock, valued at $373,337.80. This trade represents a 32.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 559,806 shares of company stock valued at $25,353,904 in the last 90 days. 15.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innodata

A number of institutional investors and hedge funds have recently made changes to their positions in INOD. Principal Financial Group Inc. bought a new position in Innodata in the 3rd quarter worth about $311,000. Jennison Associates LLC purchased a new position in shares of Innodata during the fourth quarter worth about $402,000. Los Angeles Capital Management LLC bought a new position in shares of Innodata in the third quarter worth approximately $330,000. Geode Capital Management LLC raised its stake in Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after purchasing an additional 13,609 shares in the last quarter. Finally, Silverleafe Capital Partners LLC bought a new stake in Innodata during the fourth quarter valued at approximately $913,000. 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.