Innovid (NYSE:CTV) Price Target Increased to $2.10 by Analysts at Morgan Stanley

Innovid (NYSE:CTV) had its price target boosted by Morgan Stanley from $1.60 to $2.10 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently weighed in on CTV. JMP Securities reissued a market outperform rating and set a $3.00 price objective 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 objective 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

NYSE:CTV opened at $2.21 on Tuesday. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $313.42 million, a P/E ratio of -9.61 and a beta of 3.31. Innovid has a 12 month low of $0.85 and a 12 month high of $2.58. The business’s 50-day moving average is $2.07 and its 200 day moving average is $1.59.

Innovid (NYSE:CTV) last posted its earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $38.62 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned ($0.03) earnings per share.

Insider Activity

In other Innovid news, CEO Zvika Netter bought 25,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $1.84 per share, with a total value of $46,000.00. Following the completion of the purchase, the chief executive officer now owns 4,085,733 shares in the company, valued at approximately $7,517,748.72. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in shares of Innovid by 15.0% during the third quarter. Ameriprise Financial Inc. now owns 4,535,215 shares of the company’s stock valued at $5,805,000 after buying an additional 590,589 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Innovid by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 4,276,144 shares of the company’s stock valued at $6,414,000 after buying an additional 121,394 shares during the last quarter. Whetstone Capital Advisors LLC grew 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Innovid during the 3rd quarter worth $3,098,000. Finally, Geode Capital Management LLC increased its holdings in Innovid by 5.2% during the 1st quarter. Geode Capital Management LLC now owns 1,376,853 shares of the company’s stock worth $1,941,000 after purchasing an additional 67,735 shares during the period. Institutional investors own 25.46% of the company’s stock.

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.