Why Innodata Stock Doubled Today (Yes, Really!)
Shares of (NASDAQ: INOD) soared 101.3% higher on Friday morning, peaking near 11 a.m. ET. The data engineering expert backed down a bit from that extreme level, but was still up by 86% as of this writing at 2:20 p.m. ET. Innodata shareholders can thank a fantastic earnings report for this massive jump.
Let's start with the numbers. First-quarter sales rose 54% year over year to $90.1 million. Earnings nearly doubled over the same period, jumping from $0.22 to $0.42 per diluted share.
The Street consensus had called for earnings near $0.23 per share on revenue in the neighborhood of $72.1 million. Look up "blowout" in the dictionary, and you might just see Innodata's report instead of a standard definition.
Source Fool.com
Innodata Inc. Stock
€62.00
2.990%
Innodata Inc. is currently one of the favorites of our community with 13 Buy predictions and no Sell predictions.
With a target price of 94 € there is a hugely positive potential of 51.61% for Innodata Inc. compared to the current price of 62.0 €.
