Inovalon (NASDAQ:INOV) PT Raised to $25.00

Inovalon (NASDAQ:INOV) had its target price raised by Morgan Stanley from $18.00 to $25.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 6.25% from the stock’s current price.

A number of other brokerages have also recently issued reports on INOV. KeyCorp raised their price objective on shares of Inovalon from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday. BidaskClub raised shares of Inovalon from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Citigroup began coverage on shares of Inovalon in a research note on Tuesday, July 14th. They issued a “neutral” rating and a $20.00 price objective on the stock. Wells Fargo & Co reduced their price objective on shares of Inovalon from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Finally, Guggenheim lifted their price target on shares of Inovalon from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Inovalon has a consensus rating of “Hold” and a consensus price target of $21.10.

Shares of NASDAQ:INOV opened at $23.53 on Friday. The stock has a market capitalization of $3.66 billion, a PE ratio of 336.14, a P/E/G ratio of 3.01 and a beta of 0.70. Inovalon has a 1 year low of $13.39 and a 1 year high of $25.71. The firm has a fifty day moving average price of $19.62 and a 200 day moving average price of $18.61. The company has a current ratio of 1.88, a quick ratio of 2.90 and a debt-to-equity ratio of 1.40.

Inovalon (NASDAQ:INOV) last released its earnings results on Wednesday, July 29th. The technology company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. Inovalon had a net margin of 1.75% and a return on equity of 9.09%. The business had revenue of $162.20 million during the quarter, compared to analysts’ expectations of $159.46 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts forecast that Inovalon will post 0.42 earnings per share for the current fiscal year.

In related news, COO Jason Capitel sold 15,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $19.28, for a total transaction of $289,200.00. Following the sale, the chief operating officer now directly owns 596,504 shares in the company, valued at $11,500,597.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 49.59% of the company’s stock.

Large investors have recently modified their holdings of the stock. Marshall Wace North America L.P. acquired a new stake in shares of Inovalon during the first quarter worth $31,000. Fifth Third Bancorp increased its stake in Inovalon by 107.8% in the 1st quarter. Fifth Third Bancorp now owns 2,641 shares of the technology company’s stock valued at $44,000 after buying an additional 1,370 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Inovalon in the 2nd quarter valued at $73,000. Firestone Capital Management acquired a new stake in Inovalon in the 2nd quarter valued at $77,000. Finally, PNC Financial Services Group Inc. increased its stake in Inovalon by 21.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,944 shares of the technology company’s stock valued at $132,000 after buying an additional 1,403 shares during the last quarter. Institutional investors and hedge funds own 33.05% of the company’s stock.

Inovalon Company Profile

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.

Read More: What is the CAC 40 Index?

Analyst Recommendations for Inovalon (NASDAQ:INOV)

Receive News & Ratings for Inovalon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovalon and related companies with MarketBeat.com's FREE daily email newsletter.