Inovalon Holdings, Inc. (NASDAQ:INOV) Expected to Post Earnings of $0.19 Per Share

Equities research analysts predict that Inovalon Holdings, Inc. (NASDAQ:INOV) will post earnings of $0.19 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Inovalon’s earnings. Inovalon reported earnings per share of $0.16 in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.8%. The business is expected to announce its next earnings results on Wednesday, October 27th.

On average, analysts expect that Inovalon will report full year earnings of $0.75 per share for the current financial year, with EPS estimates ranging from $0.74 to $0.75. For the next financial year, analysts anticipate that the company will report earnings of $0.90 per share, with EPS estimates ranging from $0.77 to $0.96. Zacks’ EPS calculations are an average based on a survey of analysts that follow Inovalon.

Inovalon (NASDAQ:INOV) last issued its earnings results on Wednesday, July 28th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. Inovalon had a net margin of 5.55% and a return on equity of 11.72%. The firm had revenue of $190.44 million for the quarter, compared to analysts’ expectations of $183.89 million.

INOV has been the topic of several recent analyst reports. SVB Leerink cut shares of Inovalon from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $45.00 to $41.00 in a report on Thursday, August 19th. Piper Sandler upgraded shares of Inovalon from an “underweight” rating to a “neutral” rating in a report on Thursday, August 26th. KeyCorp lifted their price target on shares of Inovalon from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Zacks Investment Research cut shares of Inovalon from a “hold” rating to a “sell” rating in a report on Tuesday, August 3rd. Finally, BTIG Research cut shares of Inovalon from a “buy” rating to a “neutral” rating in a report on Thursday, August 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.86.

Shares of Inovalon stock traded down $0.01 on Monday, hitting $40.40. The stock had a trading volume of 633,695 shares, compared to its average volume of 705,808. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.21. Inovalon has a one year low of $17.56 and a one year high of $40.99. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 149.64, a PEG ratio of 2.60 and a beta of 0.59. The stock’s 50-day simple moving average is $38.80 and its two-hundred day simple moving average is $33.58.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. raised its position in shares of Inovalon by 1.0% in the 2nd quarter. Citigroup Inc. now owns 26,381 shares of the technology company’s stock worth $899,000 after purchasing an additional 263 shares during the last quarter. Legal & General Group Plc raised its position in shares of Inovalon by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 12,919 shares of the technology company’s stock worth $441,000 after purchasing an additional 267 shares during the last quarter. Arizona State Retirement System raised its position in shares of Inovalon by 1.7% in the 1st quarter. Arizona State Retirement System now owns 21,313 shares of the technology company’s stock worth $613,000 after purchasing an additional 353 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Inovalon by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,049 shares of the technology company’s stock worth $1,501,000 after purchasing an additional 437 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Inovalon by 5.3% in the 2nd quarter. Squarepoint Ops LLC now owns 10,462 shares of the technology company’s stock worth $357,000 after purchasing an additional 523 shares during the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

About Inovalon

Inovalon Holdings, Inc engages in the development of cloud-based platforms for the healthcare industry. Its products include datasets, integration technologies, predictive analytics, and related services. The company was founded in 1998 and is headquartered in Bowie, MD.

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