Inovalon (NASDAQ:INOV) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Inovalon (NASDAQ:INOV) from a hold rating to a buy rating in a research report released on Wednesday morning, ValuEngine reports.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Inovalon from a buy rating to a hold rating in a research report on Saturday, August 24th. Morgan Stanley boosted their price target on shares of Inovalon from $14.00 to $18.00 and gave the stock an equal weight rating in a research report on Friday, August 23rd. Finally, BidaskClub cut shares of Inovalon from a buy rating to a hold rating in a research report on Tuesday, June 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $17.00.

Shares of NASDAQ INOV traded up $0.50 during midday trading on Wednesday, reaching $17.50. 661,518 shares of the company traded hands, compared to its average volume of 464,372. Inovalon has a 52 week low of $9.19 and a 52 week high of $17.80. The stock has a 50-day moving average price of $16.17 and a 200 day moving average price of $14.17. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 97.22, a PEG ratio of 3.03 and a beta of 0.59.



Inovalon (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. Inovalon had a negative net margin of 2.70% and a positive return on equity of 6.39%. The firm had revenue of $156.98 million for the quarter, compared to analysts’ expectations of $155.72 million. During the same period in the previous year, the business earned $0.13 earnings per share. Inovalon’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts expect that Inovalon will post 0.38 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Advisor Group Inc. raised its position in Inovalon by 10.3% in the second quarter. Advisor Group Inc. now owns 8,675 shares of the technology company’s stock worth $125,000 after acquiring an additional 813 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in 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 buying an additional 1,017 shares during the period. Aperio Group LLC raised its holdings in Inovalon by 10.0% during the 2nd quarter. Aperio Group LLC now owns 20,321 shares of the technology company’s stock worth $295,000 after buying an additional 1,848 shares during the period. Bank of Montreal Can raised its holdings in Inovalon by 24.1% during the 2nd quarter. Bank of Montreal Can now owns 11,819 shares of the technology company’s stock worth $171,000 after buying an additional 2,299 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Inovalon by 712.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,688 shares of the technology company’s stock worth $39,000 after buying an additional 2,357 shares during the period. Hedge funds and other institutional investors own 32.81% 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.

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