Innodata Inc. (NASDAQ:INOD) Receives $80.00 Average Price Target from Analysts

Innodata Inc. (NASDAQ:INOD) has been assigned an average rating of “Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $80.00.

A number of equities analysts have commented on the company. Wedbush lifted their target price on Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Zacks Research raised Innodata from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Innodata in a report on Tuesday, October 14th. Finally, BWS Financial boosted their target price on Innodata from $74.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 10th.

Innodata Stock Down 3.2%

NASDAQ:INOD opened at $64.69 on Monday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 52.17 and a beta of 2.90. Innodata has a one year low of $22.70 and a one year high of $93.85. The stock has a 50-day simple moving average of $69.29 and a 200 day simple moving average of $52.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87.

Institutional Investors Weigh In On Innodata

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INOD. Yong Rong HK Asset Management Ltd bought a new stake in Innodata during the first quarter worth approximately $28,548,000. Wellington Management Group LLP increased its holdings in shares of Innodata by 177.8% in the first quarter. Wellington Management Group LLP now owns 793,041 shares of the technology company’s stock valued at $28,470,000 after buying an additional 507,540 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Innodata by 1,058.5% in the second quarter. Jump Financial LLC now owns 391,200 shares of the technology company’s stock valued at $20,037,000 after buying an additional 357,433 shares in the last quarter. Nuveen LLC bought a new position in shares of Innodata in the first quarter valued at $12,310,000. Finally, HRT Financial LP increased its holdings in shares of Innodata by 746.1% in the second quarter. HRT Financial LP now owns 218,635 shares of the technology company’s stock valued at $11,198,000 after buying an additional 192,794 shares in the last quarter. Institutional investors 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.