Wedbush Predicts Innodata's FY2024 Earnings (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD - Free Report) - Research analysts at Wedbush issued their FY2024 earnings per share estimates for shares of Innodata in a research report issued to clients and investors on Thursday, December 19th. Wedbush analyst D. Ives expects that the technology company will post earnings of $0.64 per share for the year. Wedbush has a "Outperform" rating and a $48.00 price target on the stock. The consensus estimate for Innodata's current full-year earnings is $0.59 per share. Wedbush also issued estimates for Innodata's Q4 2024 earnings at $0.22 EPS, Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.19 EPS and FY2025 earnings at $0.82 EPS.

A number of other equities analysts have also commented on the company. Chardan Capital reissued a "buy" rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Craig Hallum initiated coverage on shares of Innodata in a research report on Tuesday, September 17th. They set a "buy" rating and a $23.00 price target on the stock. BWS Financial raised their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.20.

Innodata Price Performance

NASDAQ INOD traded up $0.25 during trading hours on Monday, reaching $43.26. 2,444,323 shares of the company's stock were exchanged, compared to its average volume of 846,891. The firm has a fifty day moving average of $33.62 and a 200-day moving average of $22.41. Innodata has a one year low of $5.46 and a one year high of $55.17. The stock has a market cap of $1.25 billion, a PE ratio of 73.32 and a beta of 2.55. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Institutional Trading of Innodata

Institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in Innodata during the 2nd quarter worth $27,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Innodata by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock worth $1,291,000 after acquiring an additional 1,843 shares in the last quarter. Compass Ion Advisors LLC raised its position in shares of Innodata by 5.6% during the third quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company's stock worth $632,000 after purchasing an additional 2,011 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock valued at $250,000 after purchasing an additional 2,207 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock valued at $225,000 after purchasing an additional 3,739 shares during the period. 30.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Louise C. Forlenza sold 4,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the transaction, the director now owns 8,278 shares of the company's stock, valued at $373,337.80. This represents a 32.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jack Abuhoff sold 225,000 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $46.38, for a total value of $10,435,500.00. Following the completion of the transaction, the chief executive officer now owns 1,188,358 shares in the company, valued at $55,116,044.04. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,035,083 shares of company stock valued at $46,889,370. 15.23% of the stock is currently owned by insiders.

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.