Innovid (NYSE:CTV) PT Raised to $2.10

Innovid (NYSE:CTV) had its price objective boosted by analysts at Morgan Stanley from $1.60 to $2.10 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 9.87% from the company’s current price.

Several other brokerages have also recently commented on CTV. JMP Securities reiterated a “market outperform” rating and issued a $3.00 price target on shares of Innovid in a research note on Wednesday, April 10th. Needham & Company LLC reissued a “buy” rating and set a $2.25 price target on shares of Innovid in a research note on Tuesday, February 27th. Finally, TheStreet raised Innovid from a “d” rating to a “c-” rating in a research note on Friday, March 15th.

Innovid Price Performance

CTV opened at $2.33 on Tuesday. The company’s 50-day simple moving average is $2.04 and its two-hundred day simple moving average is $1.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.99 and a current ratio of 3.99. The stock has a market capitalization of $330.45 million, a P/E ratio of -10.13 and a beta of 3.31. Innovid has a 52-week low of $0.85 and a 52-week high of $2.58.

Innovid (NYSE:CTV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $38.62 million during the quarter, compared to analysts’ expectations of $36.90 million. Innovid had a negative return on equity of 8.92% and a negative net margin of 22.81%. During the same quarter in the prior year, the business earned ($0.03) earnings per share.

Insider Transactions at Innovid

In other Innovid news, CEO Zvika Netter purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average price of $1.84 per share, with a total value of $46,000.00. Following the acquisition, the chief executive officer now owns 4,085,733 shares in the company, valued at $7,517,748.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.90% of the company’s stock.

Institutional Trading of Innovid

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its stake in shares of Innovid by 15.0% in the third quarter. Ameriprise Financial Inc. now owns 4,535,215 shares of the company’s stock valued at $5,805,000 after acquiring an additional 590,589 shares during the period. Vanguard Group Inc. raised its position in Innovid by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 4,276,144 shares of the company’s stock worth $6,414,000 after purchasing an additional 121,394 shares during the period. Whetstone Capital Advisors LLC lifted its stake in Innovid by 353.6% in the second quarter. Whetstone Capital Advisors LLC now owns 3,565,848 shares of the company’s stock worth $3,887,000 after purchasing an additional 2,779,658 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Innovid during the third quarter valued at approximately $3,098,000. Finally, Geode Capital Management LLC grew its stake in shares of Innovid by 5.2% during the first quarter. Geode Capital Management LLC now owns 1,376,853 shares of the company’s stock valued at $1,941,000 after buying an additional 67,735 shares during the last quarter. Hedge funds and other institutional investors own 25.46% of the company’s stock.

About Innovid

Innovid Corp. operates an independent software platform that provides ad serving, measurement, and creative services. It offers advertising services for the creation, delivery, and measurement of TV ads across connected TV, mobile TV, and desktop TV environments to advertisers, publishers, and media agencies.