Innovid (NYSE:CTV) Price Target Raised to $2.10

Innovid (NYSE:CTV) had its target price increased by Morgan Stanley from $1.60 to $2.10 in a report published on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

CTV has been the subject of a number of other research reports. Needham & Company LLC reissued a buy rating and issued a $2.25 price target on shares of Innovid in a report on Tuesday, February 27th. JMP Securities reaffirmed a market outperform rating and set a $3.00 target price on shares of Innovid in a report on Wednesday, April 10th. Finally, TheStreet raised shares of Innovid from a d rating to a c- rating in a report on Friday, March 15th.

Innovid Stock Performance

NYSE CTV opened at $2.36 on Tuesday. The firm has a market cap of $334.70 million, a price-to-earnings ratio of -10.26 and a beta of 3.31. The company has a 50 day moving average of $2.02 and a 200-day moving average of $1.58. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.10. Innovid has a 1-year low of $0.85 and a 1-year high of $2.58.

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

Insider Transactions at Innovid

In related news, CEO Zvika Netter acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average cost of $1.84 per share, with a total value of $46,000.00. Following the transaction, the chief executive officer now owns 4,085,733 shares of the company’s stock, valued at approximately $7,517,748.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Innovid

Several institutional investors have recently added to or reduced their stakes in CTV. Vanguard Group Inc. lifted its position in Innovid by 398.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,223,094 shares of the company’s stock valued at $11,445,000 after acquiring an additional 3,375,086 shares in the last quarter. Whetstone Capital Advisors LLC lifted its position in Innovid by 353.6% during the 2nd quarter. Whetstone Capital Advisors LLC now owns 3,565,848 shares of the company’s stock worth $3,887,000 after buying an additional 2,779,658 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Innovid during the 3rd quarter worth about $3,098,000. Renaissance Technologies LLC bought a new stake in Innovid during the 2nd quarter worth about $914,000. Finally, Ameriprise Financial Inc. lifted its position in Innovid by 15.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,535,215 shares of the company’s stock worth $5,805,000 after buying an additional 590,589 shares in the last quarter. 25.46% of the stock is owned by institutional investors.

Innovid Company Profile

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.