Inovalon (NASDAQ:INOV) Price Target Increased to $25.00 by Analysts at Morgan Stanley

Inovalon (NASDAQ:INOV) had its price objective boosted by investment analysts at Morgan Stanley from $18.00 to $25.00 in a report released on Friday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price would suggest a potential upside of 6.25% from the stock’s previous close.

Several other brokerages have also recently issued reports on INOV. KeyCorp upped their price target on shares of Inovalon from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday. Guggenheim upped their price objective on shares of Inovalon from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Zacks Investment Research lowered shares of Inovalon from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub raised shares of Inovalon from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, SVB Leerink upped their price objective on shares of Inovalon from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.10.

INOV stock opened at $23.53 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.88 and a quick ratio of 2.90. Inovalon has a 1 year low of $13.39 and a 1 year high of $25.71. The company has a 50 day simple moving average of $19.62 and a 200 day simple moving average of $18.61. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 336.14, a P/E/G ratio of 3.01 and a beta of 0.70.

Inovalon (NASDAQ:INOV) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. Inovalon had a net margin of 1.75% and a return on equity of 9.09%. The firm had revenue of $162.20 million during the quarter, compared to analysts’ expectations of $159.46 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Inovalon will post 0.42 EPS for the current fiscal year.

In related news, COO Jason Capitel sold 15,000 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $19.28, for a total transaction of $289,200.00. Following the transaction, the chief operating officer now directly owns 596,504 shares of the company’s stock, valued at $11,500,597.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 49.59% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sigma Planning Corp bought a new position in shares of Inovalon in the second quarter valued at approximately $210,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Inovalon in the second quarter worth $405,000. Firestone Capital Management purchased a new position in shares of Inovalon in the second quarter worth $77,000. Dupont Capital Management Corp increased its position in Inovalon by 17.2% during the 2nd quarter. Dupont Capital Management Corp now owns 59,014 shares of the technology company’s stock valued at $1,137,000 after purchasing an additional 8,672 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in Inovalon during the 2nd quarter valued at $139,000. 33.05% of the stock is currently owned by institutional investors and hedge funds.

Inovalon Company Profile

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.

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Analyst Recommendations for Inovalon (NASDAQ:INOV)

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