Analysts Set Innodata Inc. (NASDAQ:INOD) Price Target at $55.00

Innodata Inc. (NASDAQ:INOD) has earned a consensus recommendation of “Buy” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $55.00.

A number of equities research analysts have recently commented on the stock. Wedbush reduced their target price on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. BWS Financial reaffirmed a “buy” rating and issued a $74.00 target price on shares of Innodata in a research report on Monday, June 16th.

Innodata Stock Up 3.8%

Shares of NASDAQ INOD opened at $49.79 on Tuesday. The stock has a market capitalization of $1.58 billion, a PE ratio of 47.87 and a beta of 2.68. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.09. Innodata has a 12-month low of $13.02 and a 12-month high of $71.00. The stock’s fifty day simple moving average is $41.78 and its two-hundred day simple moving average is $41.63.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $58.34 million for the quarter, compared to the consensus estimate of $57.64 million. Innodata had a return on equity of 55.38% and a net margin of 17.53%. The firm’s revenue was up 120.1% on a year-over-year basis. As a group, analysts expect that Innodata will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Innodata

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV acquired a new stake in Innodata in the first quarter valued at $29,000. Meeder Asset Management Inc. purchased a new stake in shares of Innodata during the 4th quarter worth about $36,000. AlphaQuest LLC grew its stake in Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares during the period. KBC Group NV acquired a new stake in shares of Innodata in the first quarter valued at about $52,000. Finally, Motco acquired a new position in Innodata during the 1st quarter worth approximately $72,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.