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

Innodata Inc. (NASDAQ:INOD) has been given an average rating of “Buy” by the five analysts that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $53.00.

A number of research analysts have issued reports on the company. BWS Financial lifted their price objective on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Chardan Capital reiterated a “buy” rating and set a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Wedbush assumed coverage on Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective for the company. Finally, Maxim Group lifted their price objective on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st.

Insiders Place Their Bets

In other Innodata news, Director Nauman Sabeeh Toor sold 110,207 shares of Innodata stock in a transaction on Friday, December 20th. The stock was sold at an average price of $44.00, for a total value of $4,849,108.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Ashok Mishra sold 58,500 shares of Innodata stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total value of $2,630,745.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 368,707 shares of company stock valued at $16,553,853. Corporate insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Several large investors have recently modified their holdings of INOD. D. E. Shaw & Co. Inc. grew its holdings in shares of Innodata by 1,718.4% in 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 period. Driehaus Capital Management LLC bought a new stake in shares of Innodata in the fourth quarter worth $16,713,000. JPMorgan Chase & Co. grew its holdings in shares of Innodata by 2,038.4% in 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 period. Wellington Management Group LLP bought a new stake in shares of Innodata in the fourth quarter worth $11,283,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Innodata by 322.9% in 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 period. Institutional investors own 30.75% of the company’s stock.

Innodata Trading Down 1.9 %

INOD opened at $58.11 on Wednesday. The stock has a market cap of $1.69 billion, a PE ratio of 68.37 and a beta of 2.57. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $42.03 and a 200-day moving average of $30.63. Innodata has a 52 week low of $5.46 and a 52 week high of $71.00.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. The business had revenue of $59.18 million during the quarter, compared to analysts’ expectations of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. Equities research analysts predict that Innodata will post 0.81 earnings per share for the current fiscal 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.