Why Wall Street Is Becoming Increasingly Bullish On Innodata (INOD)

Sajjl Nooranne

Tue, May 19, 2026 at 6:56 AM EDT 2 min read

With a one-month return of 121.33%, Innodata Inc. (NASDAQ:INOD) is among the 8 Best Rising Tech Stocks to Buy According to Hedge Funds.

On May 14, Wedbush raised its price target on Innodata Inc. (NASDAQ:INOD) to $100 from $80 while maintaining an Outperform rating on the shares. The firm stated that the higher target reflects increased confidence in the company’s long-term growth runway following what it described as “monster” first-quarter results and an improved outlook. Wedbush reiterated its view that Innodata is positioned to emerge as a major beneficiary of accelerating artificial intelligence adoption trends, citing the company’s expanding role in supporting enterprise AI initiatives and data infrastructure development.

Earlier, on May 8, Wedbush increased its price target on Innodata Inc. (NASDAQ:INOD) to $80 from $75 while also reiterating an Outperform rating. According to the firm, the company delivered exceptionally strong first-quarter results featuring substantial beats across key financial metrics while raising fiscal 2026 revenue growth guidance to more than 40% year over year. Wedbush noted that the performance demonstrates Innodata’s ability to capitalize on growing demand for AI-related data solutions and highlighted the company’s continued inclusion on the IVES AI 30 list as additional validation of its strategic positioning within the AI ecosystem.

Founded in 1988 and headquartered in Ridgefield Park, Innodata Inc. (NASDAQ:INOD) is a global data engineering company that develops foundational data and software platforms used to build, train, and deploy artificial intelligence solutions. The company supports enterprise AI adoption through services and technologies designed to improve data quality, scalability, and operational efficiency.

While we acknowledge the potential of INOD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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