BWS Financial analyst Hamed Khorsand has maintained their bullish stance on INOD stock, giving a Buy rating today.
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Hamed Khorsand has given his Buy rating due to a combination of factors that highlight Innodata’s promising business trajectory. The company exceeded expectations with its fourth-quarter 2024 results, showcasing its ability to secure new projects and initiate pilot programs, indicating strong demand for its data training services.
Moreover, Innodata’s guidance for 2025 suggests continued business growth, with increasing customer workloads expected to surpass current forecasts. The company’s fourth-quarter revenue outperformed estimates, and with the potential to exceed $300 million in revenue by 2026, Khorsand sees justification for a higher stock valuation, raising the price target to $74.
According to TipRanks, Khorsand is a 5-star analyst with an average return of 9.6% and a 52.19% success rate. Khorsand covers the Technology sector, focusing on stocks such as Adeia, Immersion, and Innodata.
In another report released today, Maxim Group also reiterated a Buy rating on the stock with a $75.00 price target.