Innodata Inc. (NASDAQ:INOD) Receives Average Recommendation of "Buy" from Analysts

Innodata Inc. (NASDAQ:INOD - Get Free Report) has received an average rating of "Buy" from the five research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $38.20.

Several brokerages have recently issued reports on INOD. Chardan Capital restated a "buy" rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Wedbush started coverage on Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Finally, BWS Financial raised their target price on Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 8th.

Innodata Stock Performance

Shares of Innodata stock traded up $2.01 during midday trading on Friday, hitting $38.75. The company had a trading volume of 921,907 shares, compared to its average volume of 1,286,070. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 65.68 and a beta of 2.57. Innodata has a 12-month low of $5.46 and a 12-month high of $55.17. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $39.16 and a 200 day simple moving average of $27.24.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.07 by $0.28. Innodata had a net margin of 14.57% and a return on equity of 44.38%. The business had revenue of $52.22 million during the quarter, compared to the consensus estimate of $35.47 million. During the same period in the previous year, the firm posted $0.01 earnings per share. As a group, analysts predict that Innodata will post 0.62 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Ashok Mishra sold 58,500 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $44.97, for a total transaction of $2,630,745.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the company's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the transaction, the director now owns 209,194 shares of the company's stock, valued at approximately $9,204,536. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,035,083 shares of company stock worth $46,889,370 in the last ninety days. Company insiders own 15.23% of the company's stock.

Institutional Investors Weigh In On Innodata

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in shares of Innodata in the third quarter worth approximately $311,000. Los Angeles Capital Management LLC acquired a new stake in Innodata during the 3rd quarter worth $330,000. Geode Capital Management LLC grew its holdings 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 worth $10,294,000 after buying an additional 13,609 shares in the last quarter. Silverleafe Capital Partners LLC acquired a new stake in shares of Innodata in the fourth quarter valued at about $913,000. Finally, Barclays PLC lifted its stake in shares of Innodata by 324.3% in the third quarter. Barclays PLC now owns 38,557 shares of the technology company's stock worth $647,000 after buying an additional 29,470 shares in the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.