For Immediate Release
Chicago, IL – November 21, 2024 – Today, Zacks Investment Ideas feature highlights Innodata INOD and Palantir PLTR.
The Next Big AI Stock (INOD)
Innodata is a technology company that plays a crucial role in the AI revolution. While it might not be a household name, it's a key player in the digital transformation of businesses across various industries.
Not only is the stock extremely well positioned for the ongoing AI boom, but it also boasts a Zacks Rank #1 (Strong Buy) rating and powerful stock price momentum. Innodata also very much reminds me of Palantir in its early days, which has been a massive AI winner.
What Does Innodata Do?
Innodata specializes in data engineering and data science, providing essential services to power AI and machine learning applications. Specifically, the company:
· Transforms Raw Data: Innodata converts raw data into a usable format that can be fed into AI models.
· Labels and Categorizes Data: This process, known as data annotation, is crucial for training AI models to recognize patterns and make accurate predictions.
· Builds Custom Tools: Innodata develops custom platforms and tools to help businesses manage and analyze their data efficiently.
Why Innodata Matters
· Strategic Partnerships: Innodata has forged strategic partnerships with five of the "Magnificent Seven" tech giants, demonstrating its strong position in the AI industry.
· Strong Financial Performance: The company's recent quarterly report highlighted significant revenue growth and improved profitability.
· AI Pioneer: Innodata has been at the forefront of AI and data science for years, giving it a deep understanding of the industry's evolving needs.
As AI continues to reshape industries, Innodata is well-positioned to capitalize on this trend. By providing critical data services and leveraging its expertise, the company is helping businesses unlock the full potential of AI.
For investors looking to get exposure to some up-and-coming AI names and maybe find the next Palantir, I recommend keeping an eye on Innodata.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Innodata Inc. (INOD) : Free Stock Analysis Report
Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
