Innodata (NASDAQ:INOD) Trading Up 12.9% – What’s Next?

Innodata Inc. (NASDAQ:INOD)’s stock price shot up 12.9% during trading on Tuesday . The stock traded as high as $38.55 and last traded at $38.8830. 925,303 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 1,236,907 shares. The stock had previously closed at $34.45.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings lowered Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Zacks Research cut Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of Innodata in a research note on Friday, January 30th. Finally, BWS Financial reiterated a “top pick” rating and set a $110.00 target price on shares of Innodata in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Innodata Price Performance

The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $47.38 and a 200 day moving average price of $58.83. The stock has a market cap of $1.26 billion, a PE ratio of 42.98 and a beta of 2.46.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. Innodata had a return on equity of 35.12% and a net margin of 12.79%.The company had revenue of $72.38 million during the quarter, compared to analyst estimates of $69.47 million. During the same quarter last year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, research analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Innodata

A number of institutional investors have recently modified their holdings of INOD. Vanguard Group Inc. grew its stake in Innodata by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,840,491 shares of the technology company’s stock valued at $141,847,000 after buying an additional 15,036 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Innodata by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 752,795 shares of the technology company’s stock worth $38,362,000 after acquiring an additional 2,407 shares in the last quarter. State Street Corp boosted its holdings in shares of Innodata by 2.8% in the fourth quarter. State Street Corp now owns 711,180 shares of the technology company’s stock worth $36,235,000 after acquiring an additional 19,484 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Innodata by 8.1% in the fourth quarter. Wellington Management Group LLP now owns 571,987 shares of the technology company’s stock worth $29,143,000 after acquiring an additional 42,847 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Innodata by 24.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 441,047 shares of the technology company’s stock valued at $22,473,000 after purchasing an additional 87,243 shares in the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Innodata Company Profile

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.