In a report released yesterday, Hamed Khorsand from BWS Financial maintained a Buy rating on Innodata, with a price target of $110.00.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Hamed Khorsand has given his Buy rating due to a combination of factors including Innodata’s recent contract wins and demonstrated operating leverage. He notes that Innodata secured a major new technology client, worth at least $51 million, which broadens the company’s customer base and underscores growing demand for its data and AI services.
He also highlights the early traction of Innodata’s Evaluation and Observability Platform, already generating a seven‑figure contract with a leading cloud provider and attracting additional prospects. Furthermore, the potential for two hyperscalers to distribute Innodata’s platform to their full customer networks presents a significant recurring revenue opportunity that, in his view, supports a favorable risk‑reward profile.
Khorsand covers the Technology sector, focusing on stocks such as Innodata, Adeia, and Ubiquiti Networks. According to TipRanks, Khorsand has an average return of 19.2% and a 61.02% success rate on recommended stocks.
In another report released today, Craig-Hallum also reiterated a Buy rating on the stock with a $80.00 price target.