Innodata Inc. (NASDAQ:INOD) Receives $53.00 Consensus Target Price from Analysts

Innodata Inc. (NASDAQ:INOD) has earned a consensus rating of “Buy” from the five ratings firms that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have covered the stock in the last year is $53.00.

INOD has been the topic of several research reports. StockNews.com raised shares of 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 price target on shares of Innodata in a research report on Friday, December 13th. Wedbush initiated coverage on shares of Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target on the stock. Maxim Group increased their price target on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, BWS Financial increased their price target on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st.

Innodata Trading Up 0.7 %

Shares of INOD stock opened at $51.14 on Wednesday. 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 $1.60 billion, a PE ratio of 60.17 and a beta of 2.57. The company has a 50-day moving average of $43.80 and a two-hundred day moving average of $32.22. Innodata has a 1-year low of $5.46 and a 1-year high of $71.00.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.20. The company had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. On average, analysts predict that Innodata will post 0.81 EPS for the current year.

Insider Activity at Innodata

In other Innodata news, Director Nauman Sabeeh Toor sold 110,207 shares of the firm’s stock in a transaction that occurred 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 approximately $9,204,536. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following 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 a total of 385,634 shares of company stock valued at $22,639,902 over the last 90 days. 15.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Innodata

A number of hedge funds have recently modified their holdings of INOD. D. E. Shaw & Co. Inc. grew its position in shares of Innodata by 1,718.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock worth $37,331,000 after acquiring an additional 892,663 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Innodata during the fourth quarter worth approximately $16,713,000. JPMorgan Chase & Co. grew its position in shares of Innodata by 2,038.4% during the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company’s stock worth $12,176,000 after acquiring an additional 293,687 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Innodata during the fourth quarter worth approximately $11,283,000. Finally, Ameriprise Financial Inc. grew its position in shares of Innodata by 322.9% during the fourth quarter. Ameriprise Financial Inc. now owns 318,096 shares of the technology company’s stock worth $13,649,000 after acquiring an additional 242,871 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.