Innodata (NASDAQ:INOD) Trading 14.8% Higher – Time to Buy?

Shares of Innodata Inc. (NASDAQ:INOD) were up 14.8% during trading on Monday . The company traded as high as $44.09 and last traded at $44.97. Approximately 1,155,659 shares traded hands during trading, a decline of 21% from the average daily volume of 1,465,903 shares. The stock had previously closed at $39.19.

Analysts Set New Price Targets

Several research firms have commented on INOD. BWS Financial reiterated a “buy” rating and set a $74.00 price objective on shares of Innodata in a research report on Monday. Maxim Group raised their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Wedbush lowered their price objective on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Innodata Price Performance

The stock has a 50-day moving average of $38.13 and a two-hundred day moving average of $40.93. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 52.42 and a beta of 2.65. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The business had revenue of $58.34 million for the quarter, compared to analyst estimates of $57.64 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business’s quarterly revenue was up 120.1% on a year-over-year basis. On average, analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Institutional Investors Weigh In On Innodata

Several hedge funds have recently modified their holdings of INOD. Allworth Financial LP bought a new stake in Innodata during the 4th quarter worth approximately $29,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Innodata in the first quarter worth $29,000. Meeder Asset Management Inc. bought a new position in Innodata in the fourth quarter valued at $36,000. AlphaQuest LLC grew its stake in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after buying an additional 456 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of Innodata during the first quarter valued at about $52,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.