Analysts Set Innodata Inc. (NASDAQ:INOD) Target Price at $53.00

Innodata Inc. (NASDAQ:INOD) has been given an average recommendation of “Buy” by the five ratings firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $53.00.

A number of brokerages have recently issued reports on INOD. Maxim Group lifted their price target on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. BWS Financial boosted their price target on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st.

Insider Buying and Selling at Innodata

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the transaction, the director now owns 12,417 shares in the company, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock worth $17,790,794 over the last three months. Company insiders own 15.23% of the company’s stock.

Institutional Investors Weigh In On Innodata

Several institutional investors and hedge funds have recently bought and sold shares of INOD. Jennison Associates LLC purchased a new stake in Innodata in the fourth quarter worth $402,000. Principal Financial Group Inc. purchased a new stake in shares of Innodata in the 3rd quarter worth about $311,000. Vanguard Group Inc. boosted its stake in shares of Innodata by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after purchasing an additional 117,000 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after buying an additional 13,609 shares during the period. Finally, Silverleafe Capital Partners LLC bought a new position in Innodata in the fourth quarter worth about $913,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Stock Down 10.2 %

Shares of NASDAQ INOD opened at $29.68 on Thursday. The business has a 50-day simple moving average of $43.91 and a two-hundred day simple moving average of $37.92. Innodata has a 52 week low of $5.46 and a 52 week high of $71.00. The company has a market cap of $928.98 million, a P/E ratio of 34.92 and a beta of 2.66. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.20. The business had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. Research analysts anticipate that Innodata will post 0.81 earnings per share for the current fiscal year.

Innodata Company Profile

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.