Inovalon Holdings Inc (INOV) Expected to Announce Earnings of $0.12 Per Share

Analysts expect Inovalon Holdings Inc (NASDAQ:INOV) to announce earnings per share of $0.12 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Inovalon’s earnings. The highest EPS estimate is $0.14 and the lowest is $0.11. Inovalon posted earnings per share of $0.09 in the same quarter last year, which would suggest a positive year-over-year growth rate of 33.3%. The business is expected to issue its next quarterly earnings report on Wednesday, November 7th.

On average, analysts expect that Inovalon will report full-year earnings of $0.35 per share for the current year, with EPS estimates ranging from $0.32 to $0.39. For the next year, analysts forecast that the business will post earnings of $0.43 per share, with EPS estimates ranging from $0.32 to $0.54. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Inovalon.

Inovalon (NASDAQ:INOV) last released its earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. The company had revenue of $152.80 million for the quarter, compared to analysts’ expectations of $147.09 million. Inovalon had a negative net margin of 0.40% and a positive return on equity of 3.69%. Inovalon’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 EPS.

INOV has been the topic of several research analyst reports. BidaskClub upgraded shares of Inovalon from a “hold” rating to a “buy” rating in a research note on Saturday, July 7th. Zacks Investment Research upgraded shares of Inovalon from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Finally, ValuEngine upgraded shares of Inovalon from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.67.

INOV stock traded down $0.03 during mid-day trading on Wednesday, hitting $10.16. The company had a trading volume of 13,777 shares, compared to its average volume of 545,527. The stock has a market cap of $1.53 billion, a P/E ratio of 44.61, a PEG ratio of 2.55 and a beta of 1.11. Inovalon has a 12-month low of $8.90 and a 12-month high of $17.70. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.38.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in Inovalon by 372.5% in the 2nd quarter. FMR LLC now owns 4,770,907 shares of the technology company’s stock worth $47,351,000 after purchasing an additional 3,761,107 shares in the last quarter. BlackRock Inc. lifted its stake in Inovalon by 12.0% in the 2nd quarter. BlackRock Inc. now owns 4,717,964 shares of the technology company’s stock worth $46,824,000 after purchasing an additional 505,301 shares in the last quarter. Summit Partners L P purchased a new stake in Inovalon in the 2nd quarter worth $34,631,000. Tikvah Management LLC lifted its stake in Inovalon by 97.2% in the 1st quarter. Tikvah Management LLC now owns 1,963,400 shares of the technology company’s stock worth $20,812,000 after purchasing an additional 968,000 shares in the last quarter. Finally, Senvest Management LLC lifted its stake in Inovalon by 22.6% in the 1st quarter. Senvest Management LLC now owns 1,274,700 shares of the technology company’s stock worth $13,512,000 after purchasing an additional 235,000 shares in the last quarter. Institutional investors and hedge funds own 33.99% of the company’s stock.

About Inovalon

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models in the healthcare industry. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance.

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