Equities analysts expect Inovalon Holdings Inc (NASDAQ:INOV) to announce $160.18 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Inovalon’s earnings, with estimates ranging from $157.71 million to $164.80 million. Inovalon posted sales of $115.86 million in the same quarter last year, which would indicate a positive year over year growth rate of 38.3%. The firm is expected to report its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that Inovalon will report full year sales of $571.01 million for the current fiscal year, with estimates ranging from $566.15 million to $580.60 million. For the next year, analysts anticipate that the firm will report sales of $648.44 million per share, with estimates ranging from $636.00 million to $668.50 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Inovalon.

Inovalon (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.08. The business had revenue of $152.80 million for the quarter, compared to analyst estimates of $147.09 million. Inovalon had a positive return on equity of 3.69% and a negative net margin of 0.40%. Inovalon’s revenue was up 38.2% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share.

Several research firms recently weighed in on INOV. ValuEngine lowered Inovalon from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. BidaskClub lowered Inovalon from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Finally, Zacks Investment Research raised Inovalon from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.67.

Large investors have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new stake in Inovalon in the second quarter valued at about $105,000. Hartford Investment Management Co. acquired a new stake in shares of Inovalon during the second quarter valued at about $138,000. Victory Capital Management Inc. acquired a new stake in shares of Inovalon during the first quarter valued at about $181,000. Quantbot Technologies LP boosted its stake in shares of Inovalon by 395.7% during the first quarter. Quantbot Technologies LP now owns 17,666 shares of the technology company’s stock valued at $187,000 after purchasing an additional 14,102 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Inovalon by 93.0% during the second quarter. California Public Employees Retirement System now owns 19,489 shares of the technology company’s stock valued at $193,000 after purchasing an additional 9,389 shares in the last quarter. 34.00% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:INOV opened at $10.70 on Tuesday. The stock has a market capitalization of $1.61 billion, a P/E ratio of 46.52, a price-to-earnings-growth ratio of 2.67 and a beta of 1.10. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.38. Inovalon has a twelve month low of $8.90 and a twelve month high of $17.70.

About Inovalon

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models in the healthcare industry. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance.

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