Innodata (NASDAQ:INOD) Price Target Raised to $120.00 at Wedbush
by Mitch Edgeman · The Markets DailyInnodata (NASDAQ:INOD – Get Free Report) had its price target boosted by Wedbush from $100.00 to $120.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Wedbush’s target price would indicate a potential upside of 10.83% from the stock’s previous close.
Several other brokerages also recently weighed in on INOD. Weiss Ratings downgraded shares of Innodata from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. BWS Financial restated a “top pick” rating and issued a $110.00 price target on shares of Innodata in a research note on Friday, April 10th. Finally, Wall Street Zen raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.
View Our Latest Analysis on INOD
Innodata Trading Down 5.2%
Shares of NASDAQ INOD opened at $108.27 on Thursday. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.54 billion, a PE ratio of 97.54 and a beta of 2.83. Innodata has a twelve month low of $34.23 and a twelve month high of $118.45. The stock has a fifty day simple moving average of $62.81 and a 200-day simple moving average of $55.98.
Innodata (NASDAQ:INOD – Get Free Report) last announced its earnings results on Thursday, May 7th. The technology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.34. The company had revenue of $90.10 million during the quarter, compared to analysts’ expectations of $76.47 million. Innodata had a return on equity of 37.49% and a net margin of 13.86%.Innodata’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. On average, equities analysts forecast that Innodata will post 0.99 earnings per share for the current year.
Insider Activity
In other news, CEO Jack Abuhoff sold 105,586 shares of Innodata stock in a transaction on Friday, May 29th. The shares were sold at an average price of $103.50, for a total transaction of $10,928,151.00. Following the completion of the sale, the chief executive officer directly owned 1,340,456 shares of the company’s stock, valued at approximately $138,737,196. The trade was a 7.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ashok Mishra sold 38,666 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $114.34, for a total transaction of $4,421,070.44. Following the transaction, the chief operating officer owned 83,179 shares of the company’s stock, valued at approximately $9,510,686.86. The trade was a 31.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,178,826 shares of company stock valued at $112,016,456 in the last 90 days. Company insiders own 11.80% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in INOD. NewEdge Advisors LLC raised its position in shares of Innodata by 7.7% during the 1st quarter. NewEdge Advisors LLC now owns 14,292 shares of the technology company’s stock worth $552,000 after acquiring an additional 1,023 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Innodata by 3.5% in the first quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company’s stock valued at $283,000 after purchasing an additional 248 shares in the last quarter. Bank of America Corp DE increased its stake in Innodata by 156.3% in the first quarter. Bank of America Corp DE now owns 102,268 shares of the technology company’s stock valued at $3,950,000 after purchasing an additional 62,361 shares during the last quarter. H&H International Investment LLC acquired a new stake in Innodata during the first quarter worth approximately $386,000. Finally, Janus Henderson Group PLC lifted its position in shares of Innodata by 13.8% during the 1st quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company’s stock worth $20,315,000 after buying an additional 63,779 shares during the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.
About Innodata
Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.
The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.