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Louise C. Forlenza, a director at Innodata Inc. (NASDAQ:INOD), has sold 774 shares of the company’s common stock, according to a recent SEC filing. The transaction comes as Innodata shows remarkable performance, with the stock delivering nearly 600% returns over the past year. According to InvestingPro analysis, the company maintains a "GREAT" financial health score. The shares were sold at a price of $64.99 each, totaling $50,302. Following this transaction, Forlenza holds 8,278 shares of Innodata’s common stock, which includes restricted stock units set to vest by June 2025 or at the company’s annual meeting that year. The sale was part of Forlenza’s personal financial planning, including retirement planning and portfolio diversification. With analyst targets ranging from $72 to $75, InvestingPro subscribers can access comprehensive insider trading analysis and 20+ additional key insights about Innodata’s valuation and growth prospects.
In other recent news, Innodata Inc. reported robust financial results for the fourth quarter of 2024, surpassing analyst expectations. The company posted an earnings per share of $0.34, exceeding the projected $0.21, and achieved revenue of $59.2 million, well above the anticipated $52.98 million. This impressive performance marks a 127% year-over-year increase in revenue, contributing to a full-year revenue of $170.5 million, which is a 96% rise from the previous year. In light of these results, BWS Financial raised its price target for Innodata shares from $45 to $74, maintaining a Buy rating. The firm expressed confidence in Innodata’s growth trajectory, particularly noting the company’s projection of at least a 40% revenue increase by 2025. Additionally, Innodata’s strategic investments in expanding its workforce are expected to secure more projects, aligning with its ambitious revenue targets. The company’s strong quarter and promising revenue forecast have positively resonated with analysts, highlighting the potential seen in Innodata’s strategic direction and market positioning.
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