Innodata (NASDAQ:INOD) Shares Gap Up - Time to Buy?

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $31.83, but opened at $35.28. Innodata shares last traded at $34.34, with a volume of 260,417 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Maxim Group increased 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. Wedbush started coverage on shares of Innodata in a report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. Finally, BWS Financial upped their price target on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Innodata presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

Innodata Stock Performance

The firm's fifty day moving average is $44.93 and its 200 day moving average is $37.03. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 43.64 and a beta of 2.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business had revenue of $59.18 million for the quarter, compared to analysts' expectations of $53.01 million. On average, analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

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Insider Activity

In other news, CFO Marissa B. Espineli sold 30,000 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now owns 18,000 shares in the company, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ashok Mishra sold 48,650 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the transaction, the chief operating officer now directly owns 60,000 shares in the company, valued at $3,904,200. The trade was a 44.78 % 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 worth $17,790,794 in the last three months. 15.23% of the stock is owned by insiders.

Institutional Trading of Innodata

Several large investors have recently made changes to their positions in INOD. D. E. Shaw & Co. Inc. lifted its holdings in Innodata by 1,718.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock worth $37,331,000 after purchasing an additional 892,663 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Innodata in the fourth quarter worth $16,713,000. JPMorgan Chase & Co. boosted its holdings in shares of Innodata by 2,038.4% during the 4th quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock worth $12,176,000 after buying an additional 293,687 shares during the period. Wellington Management Group LLP acquired a new position in Innodata in the 4th quarter valued at $11,283,000. Finally, Ameriprise Financial Inc. raised its holdings in Innodata by 322.9% in the 4th quarter. Ameriprise Financial Inc. now owns 318,096 shares of the technology company's stock worth $13,649,000 after acquiring an additional 242,871 shares during the period. Institutional investors own 30.75% of the company's stock.

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.