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

Shares of Innodata Inc. (NASDAQ:INOD) have been given a consensus rating of “Buy” by the five research firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $38.20.

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

Innodata Stock Performance

Innodata stock opened at $37.08 on Friday. Innodata has a 12-month low of $5.46 and a 12-month high of $55.17. 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 company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 62.85 and a beta of 2.59. The firm’s fifty day moving average price is $39.49 and its 200 day moving average price is $26.91.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, November 7th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.28. The business had revenue of $52.22 million for the quarter, compared to analyst estimates of $35.47 million. Innodata had a return on equity of 44.38% and a net margin of 14.57%. During the same period in the previous year, the company earned $0.01 earnings per share. On average, research analysts forecast that Innodata will post 0.62 EPS for the current fiscal year.

Insider Activity at Innodata

In related news, Director Louise C. Forlenza sold 4,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.10, for a total transaction of $180,400.00. Following the completion of the transaction, the director now directly owns 8,278 shares in the company, valued at $373,337.80. This represents a 32.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jack Abuhoff sold 225,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the completion of the sale, the chief executive officer now owns 1,188,358 shares in the company, valued at $55,116,044.04. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,035,083 shares of company stock valued at $46,889,370 in the last quarter. Insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

Large investors have recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in Innodata in the 4th quarter valued at approximately $29,000. USA Financial Formulas acquired a new position in shares of Innodata during the fourth quarter valued at $36,000. Spire Wealth Management bought a new stake in shares of Innodata during the fourth quarter valued at about $166,000. Point72 Asset Management L.P. acquired a new stake in Innodata in the third quarter worth about $206,000. Finally, BNP Paribas Financial Markets grew its position in Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after buying an additional 3,739 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.