Wall Street analysts predict that Inovalon Holdings Inc (NASDAQ:INOV) will post sales of $165.06 million for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Inovalon’s earnings. The highest sales estimate is $166.49 million and the lowest is $164.00 million. Inovalon posted sales of $145.81 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.2%. The business is scheduled to report its next quarterly earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Inovalon will report full year sales of $641.60 million for the current financial year, with estimates ranging from $637.22 million to $645.46 million. For the next fiscal year, analysts forecast that the company will post sales of $699.86 million, with estimates ranging from $685.67 million to $727.60 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Inovalon.
Inovalon (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.03. The company had revenue of $156.98 million during the quarter, compared to the consensus estimate of $155.72 million. Inovalon had a negative net margin of 2.70% and a positive return on equity of 6.39%. Inovalon’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS.
INOV has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Inovalon from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th. ValuEngine downgraded shares of Inovalon from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Zacks Investment Research downgraded shares of Inovalon from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Morgan Stanley raised their price target on shares of Inovalon from $14.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.00.
Several large investors have recently bought and sold shares of the stock. United Services Automobile Association boosted its position in shares of Inovalon by 47.1% during the 2nd quarter. United Services Automobile Association now owns 24,197 shares of the technology company’s stock worth $351,000 after purchasing an additional 7,746 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of Inovalon during the 2nd quarter worth approximately $4,998,000. UBS Asset Management Americas Inc. boosted its position in shares of Inovalon by 2.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 45,669 shares of the technology company’s stock worth $663,000 after purchasing an additional 1,017 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of Inovalon by 2.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 310,483 shares of the technology company’s stock worth $4,505,000 after purchasing an additional 8,551 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Inovalon by 78.8% during the 2nd quarter. AQR Capital Management LLC now owns 26,675 shares of the technology company’s stock worth $387,000 after purchasing an additional 11,757 shares during the period. 33.61% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ INOV traded down $0.37 during midday trading on Friday, reaching $15.64. 351,513 shares of the stock were exchanged, compared to its average volume of 457,761. The company has a 50 day simple moving average of $15.63 and a 200 day simple moving average of $13.98. The stock has a market capitalization of $2.47 billion, a P/E ratio of 86.89, a PEG ratio of 3.00 and a beta of 0.64. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.03 and a current ratio of 2.03. Inovalon has a twelve month low of $9.19 and a twelve month high of $17.70.
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.
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