In a report released today, Hamed Khorsand from BWS Financial maintained a Buy rating on Innodata, with a price target of $74.00.
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Hamed Khorsand has given his Buy rating due to a combination of factors, primarily focusing on Innodata’s strong financial performance and growth potential. The company reported second-quarter revenue that exceeded expectations, demonstrating resilience despite concerns about a potential slowdown in spending from its top customer. This indicates a robust customer base and effective management strategies.
Furthermore, the rising investment in AI technologies positions Innodata to capitalize on its existing relationships with large tech clients, driving significant revenue growth. The company’s ability to raise its revenue guidance amidst industry concerns further underscores its strong market position and potential for continued success. These elements collectively contribute to Khorsand’s positive outlook on Innodata’s stock.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $58.00 price target.