Authors Note: I first noticed INOD when it started to appear on Barchart's Top Trending Ticker page, then again when John Rowland featured the stock on his Market On Close segment on February 21st. Meanwhile it was also appearing on my screener so I decided to feature it here. Please notice at the base of the chart the spike in volume that coincides with the jump in price
Summary
Innodata Inc. (INOD) has shown a 39.66% gain since a Trend Seeker buy signal on 2/10, supported by strong technical indicators and consistent price appreciation.
The company operates in three segments: Digital Data Solutions, Synodex, and Agility, serving diverse sectors like banking, insurance, and technology.
Analysts are bullish with 3 strong buy ratings and a consensus price target of $74, despite MorningStar's view that the stock is 103% overvalued.
Investors should note the stock's volatility and follow a disciplined investment strategy, including diversification and regular reevaluation of stop losses.
The Chart of the Day belongs to the global data engineering company Innodata (INOD) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 2/10 the stock gained 39.66%.
INOD Price vs Daily Moving Averages:
INOD (Barchart)
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. This segment also provides a range of data engineering support services, including data transformation, data curation, data hygiene, data consolidation, data extraction, data compliance, and master data management. The Synodex segment offers an industry platform that transforms medical records into useable digital data with its proprietary data models or client data models. The Agility segment provides an industry platform that offers marketing communications and public relations professionals to target and distribute content to journalists and social media influencers; and to monitor and analyze global news channels, such as print, web, radio, and TV, as well as social media channels. It serves banking, insurance, financial services, technology, digital retailing, and information/media sectors through its professional staff, senior management, and direct sales personnel. The company was formerly known as Innodata Isogen, Inc. and changed its name to Innodata Inc. in June 2012. Innodata Inc. was incorporated in 1988 and is headquartered in Ridgefield Park, New Jersey.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 283.41+ Weighted Alpha
- 628.35% gain in the last year
- 2.57 - 60 month Beta
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 9 new highs and up 61.90% in the last month
- Relative Strength Index 72.96%
- Technical support level at $56.61
- Recently traded at $61.91 with 50 day moving average of $41.19
Fundamental Factors:
- Market Cap $1.80 billion
- P/E 79.07
- Revenue expected to increase 42.12% this year and another20.77% next year
- Earnings estimated to decrease 2.81% this year but increase by 41.04% next year
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued 3 strong buy and 1 buy opinion on the stock
- Their price targets between $72 and $75 with a consensus of $74 for a 20% gain
- Value Line gives the stock an above average rating and notes that the stock has given investors a 3,373.65% total return over the last 5 years
- CFRAs MarketScope rates the stock a buy
- MorningStar thinks the stock is 103% over valued
- Of the 378 investors following the stock on Motley Fool 327 think the stock will beat the market and 51 think it won't
- 6,880 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
