10 Best Performing Mid Cap Tech Stocks in the Last 3 Years

Page 9 of 9

1. Innodata Inc. (NASDAQ:INOD)

Market Cap: $2.79 Billion

3Y CAGR: 197.7%

Number of Hedge Fund Holders: 16

Innodata Inc. (NASDAQ:INOD) is one of the best-performing mid-cap tech stocks in the last three years. On October 8, Craig-Hallum’s Chase Knickerbocker reiterated a Buy rating on the stock. While no updated price target was disclosed, his stance seems to show ongoing confidence in Innodata’s AI-first strategy and growth trajectory.

Just three weeks prior, on September 18, Wedbush analyst Daniel Ives boosted his price target from $58 to $75, maintaining an Outperform rating.

The company’s recognition by Wedbush Securities as one of the 30 firms defining the future of AI further boosted visibility, framing Innodata as a small but indispensable cog in the broader AI ecosystem. Innodata Inc. (NASDAQ:INOD), headquartered in Ridgefield Park, New Jersey, now sits squarely at the intersection of enterprise data engineering and applied AI, a spot investors increasingly view as high ground in the generative boom.

While we acknowledge the potential of INOD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than INOD and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 9 of 9