Is INOD a buy

Innodata (INOD) does not appear to be a strong buy at the moment. Here's why:

1. Financial Metrics: The company's P/E ratio is 190.69, which is very high and suggests that the stock may be overvalued compared to its earnings. Additionally, the P/S ratio is 4.863, which is lower than the industry average, indicating that the stock may be undervalued compared to its sales.
2. Recent Analyst Upgrades and Price Targets: Innodata has received upgrades from Maxim Group and BWS Financial, with the latter increasing the price target from $24.00 to $30.00. However, the stock is currently trading above this price target, which may indicate that the price is high compared to the analyst expectations.
3. Institutional Activity: There has been a mix of institutional purchases and sales, with some institutions increasing their holdings and others reducing them. This suggests that some investors see potential in the company, while others are cautious.
4. Future Outlook: Innodata has announced the expansion of its LLM development program, which could be a positive sign for future growth. However, the company has not yet demonstrated consistent profitability, which may be a concern for some investors.
5. Investment Consideration: Given the high P/E ratio, recent price target increase, and mixed institutional activity, it is advisable for investors to exercise caution and conduct further research before making an investment decision.

In conclusion, while Innodata has potential for growth and has received positive analyst upgrades, the high P/E ratio and current trading above the updated price target suggest that the stock may be overvalued at the moment. Potential investors should consider their risk tolerance and investment horizon before making a decision.