Wedbush lifts Innodata price target to $100 on AI momentum
The firm maintains an Outperform rating as the global data engineering company sees its stock surge 121 per cent in a month.
Wedbush has raised its price target for Innodata Inc. to $100, up from $80, while maintaining an Outperform rating on the shares. The adjustment, announced on 14 May, reflects the firm’s increased confidence in the company’s long-term growth trajectory following what it described as “monster” first-quarter results.
The analyst firm highlighted Innodata’s revised fiscal 2026 revenue growth guidance, which now exceeds 40 per cent year-on-year. This upward revision follows an earlier adjustment on 8 May, when Wedbush had lifted the target from $75 to $80. The firm noted that the company delivered substantial beats across key financial metrics, demonstrating an ability to capitalise on growing demand for artificial intelligence-related data solutions.
Innodata, a global data engineering firm founded in 1988 and headquartered in Ridgefield Park, supports enterprise AI initiatives through data infrastructure development. The company develops foundational data and software platforms used to build, train, and deploy artificial intelligence solutions, aiming to improve data quality, scalability, and operational efficiency for its clients.
Wedbush views Innodata as positioned to emerge as a major beneficiary of accelerating artificial intelligence adoption trends. The firm pointed to the company’s expanding role in supporting enterprise AI initiatives and its continued inclusion on the IVES AI 30 list as validation of its strategic positioning within the AI ecosystem.
The stock has exhibited significant momentum, recording a one-month return of 121.33 per cent. This performance has placed Innodata among the top rising tech stocks recommended by hedge funds, underscoring the market’s enthusiasm for the company’s data engineering capabilities in the current technological landscape.
