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

Shares of Innodata Inc. (NASDAQ:INOD) have been assigned an average rating of “Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $53.00.

Several research analysts recently commented on INOD shares. Wedbush began coverage on Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. Maxim Group upped their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a 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 report on Friday, February 21st. Finally, Chardan Capital reaffirmed a “buy” rating and set a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th.

Insiders Place Their Bets

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 transaction of $12,672,438.80. Following the completion of the sale, the director now owns 12,417 shares in the company, valued at $799,654.80. This trade represents a 94.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,427 shares of company stock valued at $17,790,794 in the last three months. 15.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Innodata

Several large investors have recently modified their holdings of INOD. Invesco Ltd. increased its position in shares of Innodata by 2.0% during the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company’s stock worth $466,000 after purchasing an additional 232 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Innodata by 2.7% during the fourth quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company’s stock worth $447,000 after buying an additional 300 shares during the period. AlphaQuest LLC increased its position in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after acquiring an additional 456 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Innodata by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company’s stock valued at $608,000 after acquiring an additional 533 shares during the period. Finally, Allworth Financial LP acquired a new position in shares of Innodata in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Stock Down 3.8 %

INOD opened at $44.35 on Friday. The company has a market cap of $1.39 billion, a PE ratio of 52.18 and a beta of 2.59. Innodata has a twelve month low of $5.46 and a twelve month high of $71.00. The company has a 50-day moving average price of $45.31 and a 200 day moving average price of $35.13. 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 quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.11 by $0.20. The company had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. Sell-side analysts expect 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.