Wedbush Comments on Innodata’s FY2024 Earnings (NASDAQ:INOD)

Innodata Inc. (NASDAQ:INOD) – Wedbush issued their FY2024 EPS estimates for Innodata in a research report issued on Thursday, December 19th. Wedbush analyst D. Ives anticipates that the technology company will post earnings of $0.64 per share for the year. Wedbush has a “Outperform” rating and a $48.00 price target on the stock. The consensus estimate for Innodata’s current full-year earnings is $0.59 per share. Wedbush also issued estimates for Innodata’s Q4 2024 earnings at $0.22 EPS, Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.19 EPS and FY2025 earnings at $0.82 EPS.

A number of other research analysts have also recently issued reports on INOD. Craig Hallum assumed coverage on Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price for the company. BWS Financial lifted their price objective on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Innodata presently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Innodata Trading Down 0.4 %

Shares of NASDAQ INOD opened at $43.09 on Monday. Innodata has a twelve month low of $5.46 and a twelve month high of $55.17. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 73.04 and a beta of 2.55. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $33.62 and its 200-day moving average is $22.41.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INOD. nVerses Capital LLC acquired a new stake in shares of Innodata in the 2nd quarter valued at approximately $27,000. Point72 Asset Management L.P. bought a new stake in Innodata during the third quarter worth $206,000. BNP Paribas Financial Markets raised its position in Innodata by 38.5% during the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after acquiring an additional 3,739 shares in the last quarter. Private Advisor Group LLC lifted its stake in Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Innodata in the 2nd quarter valued at about $285,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Insider Buying and Selling at Innodata

In other Innodata news, Director Nauman Sabeeh Toor sold 110,207 shares of Innodata stock in a transaction on Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the sale, the director now directly owns 209,194 shares in the company, valued at approximately $9,204,536. The trade was a 34.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the transaction, the director now owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,035,083 shares of company stock worth $46,889,370. Corporate insiders own 15.23% of the company’s stock.

Innodata Company Profile

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.