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

Shares of Innodata Inc. (NASDAQ:INOD) have been assigned an average recommendation of “Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $53.00.

INOD has been the topic of several research analyst reports. Maxim Group boosted their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wedbush began coverage on shares of Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective for the company. BWS Financial upped their target price on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Chardan Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th.

Insider Buying and Selling

In other news, COO Ashok Mishra sold 48,650 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the sale, the chief operating officer now owns 60,000 shares of the company’s stock, valued at $3,904,200. This trade represents a 44.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the business’s stock in a transaction 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 transaction, the director now owns 12,417 shares of the company’s stock, valued at approximately $799,654.80. This represents a 94.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock valued at $17,790,794 over the last 90 days. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in shares of Innodata during the 4th quarter valued at about $29,000. USA Financial Formulas purchased a new position in Innodata during the fourth quarter worth approximately $36,000. Meeder Asset Management Inc. purchased a new position in Innodata during the fourth quarter worth approximately $36,000. AlphaQuest LLC grew its holdings in Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after purchasing an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Innodata in the fourth quarter valued at approximately $150,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Stock Performance

Shares of INOD stock opened at $44.35 on Friday. Innodata has a 12-month low of $5.46 and a 12-month high of $71.00. The business’s fifty day simple moving average is $45.31 and its 200-day simple moving average is $35.13. 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 company has a market cap of $1.39 billion, a PE ratio of 52.18 and a beta of 2.59.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. The company had revenue of $59.18 million for 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%. Analysts expect that Innodata will post 0.81 earnings per share for the current fiscal year.

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.