Innodata Inc. (NASDAQ:INOD) Stock Rated “Moderate Buy” by Wall Street Brokerages

Innodata Inc. (NASDAQ:INOD) has received an average rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $116.67.

INOD has been the subject of a number of recent analyst reports. Yorkville Ives started coverage on shares of Innodata in a research report on Monday, October 5th. They issued an “outperform” rating and a $90.00 price objective for the company. Zacks Research downgraded Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings lowered Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Finally, BWS Financial reiterated a “top pick” rating and set a $140.00 target price on shares of Innodata in a report on Friday, September 18th.

Insider Activity at Innodata

In other news, Director Louise Forlenza sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $53.54, for a total transaction of $535,400.00. Following the sale, the director owned 5,424 shares of the company’s stock, valued at $290,400.96. This trade represents a 64.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Innodata

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Innodata by 32.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 583,239 shares of the technology company’s stock worth $22,517,000 after buying an additional 142,192 shares during the period. Janus Henderson Group PLC lifted its stake in Innodata by 13.8% in the first quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company’s stock valued at $20,315,000 after buying an additional 63,779 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Innodata in the second quarter valued at approximately $7,262,000. Royal Bank of Canada lifted its stake in Innodata by 16.7% in the first quarter. Royal Bank of Canada now owns 169,054 shares of the technology company’s stock valued at $6,528,000 after buying an additional 24,216 shares in the last quarter. Finally, Rathbones Group PLC boosted its holdings in shares of Innodata by 20.8% in the first quarter. Rathbones Group PLC now owns 144,247 shares of the technology company’s stock valued at $5,571,000 after buying an additional 24,837 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Price Performance

Shares of NASDAQ INOD opened at $59.39 on Monday. The stock has a market cap of $2.04 billion, a P/E ratio of 44.99 and a beta of 2.98. The firm has a 50 day moving average price of $60.09 and a 200 day moving average price of $68.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.73. Innodata has a 52-week low of $34.23 and a 52-week high of $125.14.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, August 6th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.21 by $0.20. The firm had revenue of $92.14 million during the quarter, compared to the consensus estimate of $86.31 million. Innodata had a net margin of 14.66% and a return on equity of 37.79%. The business’s quarterly revenue was up 57.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Analysts expect that Innodata will post 1.35 EPS for the current year.

Innodata Company Profile

Innodata Inc (NASDAQ: INOD) is a global data engineering and technology company that helps organizations prepare, manage and use information for digital transformation and artificial intelligence initiatives. Its services are designed to support the development, training, evaluation and deployment of AI and machine-learning systems.

The company provides data annotation and labeling, data collection and preparation, content transformation, document processing, natural-language services, and generative AI support.