initial public offerings (IPOs) trading on American exchanges

Thursday, November 3, 2016

Inovalon (INOV) reported earnings on Wed 2 Nov 2016 (a/h)

** charts after earnings **


BOWIE, Md. (AP) _ Inovalon Holdings Inc. (INOV) on Wednesday reported third-quarter earnings of $7.8 million.

On a per-share basis, the Bowie, Maryland-based company said it had profit of 5 cents.

The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The health technology company posted revenue of $105 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $100.7 million.

Inovalon Holdings expects full-year earnings in the range of 39 cents to 46 cents per share, with revenue in the range of $470 million to $490 million.

Inovalon Holdings shares have decreased 21 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.50, a drop of 42 percent in the last 12 months.

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