15 Best Multibagger Stocks to Invest in Right Now

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13. Innodata Inc. (NASDAQ:INOD)

Market Cap: $1.3 Billion

Price Return over 1-Year: 166%

Potential Upside: 61%

Number of Hedge Fund Holders: 16

Innodata Inc. (NASDAQ:INOD) is one of the best multibagger stocks to invest in right now. Its share price performance has been quite volatile, with year-to-date gains of only 4%, which means that the 1-year return of 166% mainly came in the latter part of 2024.

nodata Inc. (NASDAQ:INOD) provides AI training data, content digitization, and analytics solutions to technology, media, and financial firms. As these and similar industries are experiencing rapid digital transformation, the company’s specialized solutions position it well for this upcoming growth opportunities. Although the stock carries volatility due to small-cap exposure, its alignment with the high-growth AI ecosystem should offer higher return potential if execution remains consistent.

Despite the volatility, Innodata Inc. (NASDAQ:INOD) remains a consensus Buy, and the consensus price target indicates over 60% upside. Following the release of the last quarterly results on July 31, all analysts covering the company reiterated their Buy ratings, including Allen Klee from Maxim Group, who has a price target of $75.

Klee highlighted that Q2 results showed 79% year-over-year revenue growth, driven entirely by organic demand. Adjusted EBITDA has improved as well despite reinvestment, which highlights disciplined cost control. Thus, he believed that with no debt, strong cash flow, rising AI-related opportunities, and higher 2025 revenue guidance, Innodata Inc. (NASDAQ:INOD) remains well-positioned for sustained growth.

The day after the results, the stock corrected by 18%, and since Klee’s update, it has further corrected by 8%.

Innodata Inc. (NASDAQ:INOD) is a data engineering and AI services company that provides digital transformation solutions to enterprises and large technology companies.

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