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

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

Wall Street Analysts Forecast Growth

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

Innodata Stock Up 12.3%

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.68 and a quick ratio of 2.68. The company has a fifty day moving average price of $47.38 and a 200 day moving average price of $58.83. The company 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 earnings results on Thursday, February 26th. The technology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Innodata had a net margin of 12.79% and a return on equity of 35.12%. The business had revenue of $72.38 million for the quarter, compared to the consensus estimate of $69.47 million. During the same period last year, the firm posted $0.34 earnings per share. Innodata’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Institutional Trading of Innodata

A number of hedge funds have recently bought and sold shares of INOD. Vanguard Group Inc. boosted its stake in Innodata by 0.8% in the third quarter. Vanguard Group Inc. now owns 1,840,491 shares of the technology company’s stock worth $141,847,000 after buying an additional 15,036 shares in the last quarter. Geode Capital Management LLC raised its stake 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 lifted its holdings in shares of Innodata by 2.8% in the 4th 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 last quarter. Wellington Management Group LLP boosted its stake in shares of Innodata by 8.1% in the 4th quarter. Wellington Management Group LLP now owns 571,987 shares of the technology company’s stock valued at $29,143,000 after purchasing an additional 42,847 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Innodata by 24.7% in the 4th 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. Institutional investors own 30.75% of the company’s stock.

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.