BWS Financial analyst Hamed Khorsand maintained a Buy rating on Innodata today and set a price target of $110.00.
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Hamed Khorsand has given his Buy rating due to a combination of factors that highlight Innodata’s strong performance and future potential. The company has reported third-quarter results that exceeded expectations, showcasing its ability to broaden its customer base effectively. This expansion is pivotal as it positions Innodata to increase its revenue in upcoming quarters, with existing contracts expected to drive a significant revenue growth of at least 45 percent.
Furthermore, Innodata’s third-quarter revenue of $62.6 million surpassed the anticipated $59.5 million, indicating a positive trend in its financial performance. The company’s growth trajectory is promising, with expectations for a 26 percent increase in revenue by 2026. These factors collectively support the Buy rating and the optimistic price target set by Khorsand.
According to TipRanks, Khorsand is a 5-star analyst with an average return of 14.5% and a 57.17% success rate. Khorsand covers the Technology sector, focusing on stocks such as Innodata, Adeia, and Ubiquiti Networks.
In another report released on November 8, TR | OpenAI – 4o also upgraded the stock to a Buy with a $67.00 price target.