Innodata

INOD · NASDAQ

$55.05+$1.05 (+1.94%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $54.00

INOD analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy1
Buy2
Hold0
Underperform0
Sell0

12-month price target · 6 analysts

Average $125.21 (+127.5% upside)

Low: $112.11
Now: $55.05
High: $147.00

Upgrades and downgrades

The latest rating actions, newest first

INOD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BWS Financial	Sep 18, 2026	Maintains	Top Pick	$140.00	56%
BWS Financial	Aug 7, 2026	Maintains	Top Pick	$140.00	56%
BWS Financial	Jun 15, 2026	Maintains	Top Pick	$110.00 → $140.00	56%
Wedbush	Jun 5, 2026	Maintains	Outperform	$100.00 → $120.00	64%
Wedbush	Jun 4, 2026	Maintains	Outperform	$100.00 → $120.00	64%
Wedbush	May 14, 2026	Maintains	Outperform	$80.00 → $100.00	64%
Wedbush	May 8, 2026	Maintains	Outperform	$75.00 → $80.00	64%
BWS Financial	Apr 10, 2026	Maintains	Top Pick	$110.00	56%
BWS Financial	Jan 30, 2026	Maintains	Top Pick	$110.00	56%
Wedbush	Jan 30, 2026	Maintains	Outperform	$90.00	63%

The case for and against

Updated Oct 21, 2026

Bull case

Innodata is strongly positioned to benefit from the rapid expansion of AI agents and the growing need for guardrails, with demand already broadening as AI applications move into the mainstream. Its second quarter revenue of $92.1 million exceeded estimates of $84.9 million, driven by new projects scaling during the quarter, while the company now has two customers each representing over 30 percent of revenue, underscoring meaningful commercial traction. With a new large customer materially changing the trajectory of 2026 revenue, guided growth of at least 40 percent in 2026, and a 36.7 percent revenue growth forecast looking ahead to 2027, the company appears well placed to convert its pipeline into sustained expansion.

Bear case

Innodata is facing a negative setup because the stock has been underperforming even after the Company announced a CFO and reiterated full-year guidance, which suggests that investor confidence remains fragile despite management signaling continuity. The market’s reaction implies that concerns around the second quarter were not fully resolved by the update, leaving questions about the durability of growth, execution, and visibility in a business that depends heavily on DDS-driven AI services. Even with its role in AI data preparation, model deployment, and data engineering support, the shares appear vulnerable as sentiment weakens and investors reassess whether operational progress is strong enough to justify the current outlook.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.