What is Wedbush’s Forecast for Innodata FY2024 Earnings?

Innodata Inc. (NASDAQ:INOD) – Research analysts at Wedbush issued their FY2024 earnings estimates for Innodata in a report issued on Thursday, December 19th. Wedbush analyst D. Ives expects that the technology company will post earnings per share of $0.64 for the year. Wedbush has a “Outperform” rating and a $48.00 price objective on the stock. The consensus estimate for Innodata’s current full-year earnings is $0.59 per share. Wedbush also issued estimates for Innodata’s Q4 2024 earnings at $0.22 EPS, Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.19 EPS and FY2025 earnings at $0.82 EPS.

Several other research analysts have also issued reports on the company. Craig Hallum initiated coverage on Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective for the company. BWS Financial upped their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Chardan Capital reissued a “buy” rating and set a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Finally, StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.20.

Innodata Trading Down 0.4 %

Shares of INOD opened at $43.09 on Monday. The stock has a 50 day simple moving average of $33.62 and a 200-day simple moving average of $22.41. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.25 billion, a PE ratio of 73.04 and a beta of 2.55. Innodata has a 1 year low of $5.46 and a 1 year high of $55.17.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently added to or reduced their stakes in INOD. nVerses Capital LLC acquired a new stake in shares of Innodata during the 2nd quarter worth approximately $27,000. Point72 Asset Management L.P. bought a new position in Innodata in the third quarter valued at approximately $206,000. BNP Paribas Financial Markets grew its holdings in Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after acquiring an additional 3,739 shares during the period. Private Advisor Group LLC raised its position in shares of Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Innodata during the 3rd quarter valued at $311,000. 30.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Marissa B. Espineli sold 38,333 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $47.17, for a total transaction of $1,808,167.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Louise C. Forlenza sold 4,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.10, for a total value of $180,400.00. Following the transaction, the director now directly owns 8,278 shares in the company, valued at $373,337.80. This trade represents a 32.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock valued at $46,889,370 in the last 90 days. 15.23% of the stock is currently owned by insiders.

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.