Innodata (NASDAQ:INOD) Trading Up 12.9% – Time to Buy?

Innodata Inc. (NASDAQ:INOD) traded 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 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

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

Innodata Trading Up 2.7%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a 50 day simple moving average of $46.53 and a two-hundred day simple moving average of $58.53. The firm has a market capitalization of $1.29 billion, a P/E ratio of 43.58 and a beta of 2.50.

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

Hedge Funds Weigh In On Innodata

Several hedge funds have recently modified their holdings of INOD. Arizona State Retirement System boosted its stake in Innodata by 2.4% in the third quarter. Arizona State Retirement System now owns 9,386 shares of the technology company’s stock valued at $723,000 after acquiring an additional 217 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Innodata by 11.2% during the 3rd quarter. New York State Teachers Retirement System now owns 2,747 shares of the technology company’s stock worth $212,000 after purchasing an additional 277 shares during the last quarter. Prosperity Wealth Management Inc. raised its holdings in shares of Innodata by 4.0% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 10,500 shares of the technology company’s stock worth $809,000 after purchasing an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Innodata by 5.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,703 shares of the technology company’s stock worth $392,000 after purchasing an additional 418 shares during the period. Finally, Texas Yale Capital Corp. lifted its stake in Innodata by 5.5% in the fourth quarter. Texas Yale Capital Corp. now owns 8,440 shares of the technology company’s stock valued at $430,000 after purchasing an additional 440 shares during 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.