Innovid (NYSE:CTV) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Innovid (NYSE:CTV) announced its quarterly earnings results on Tuesday. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02), RTT News reports. Innovid had a negative net margin of 22.81% and a negative return on equity of 8.92%. The company had revenue of $36.74 million during the quarter, compared to analyst estimates of $35.99 million. During the same quarter last year, the company posted ($0.06) EPS.

Innovid Price Performance

CTV stock traded down $0.13 during midday trading on Wednesday, reaching $2.09. 71,370 shares of the stock were exchanged, compared to its average volume of 264,331. Innovid has a 52 week low of $0.85 and a 52 week high of $2.58. The company has a fifty day moving average price of $2.23 and a 200 day moving average price of $1.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.99 and a quick ratio of 3.99. The stock has a market capitalization of $296.40 million, a PE ratio of -9.00 and a beta of 3.28.

Insider Buying and Selling at Innovid

In other Innovid news, CEO Zvika Netter acquired 25,000 shares of Innovid stock in a transaction that occurred on Wednesday, February 28th. The shares were bought 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 directly owns 4,085,733 shares in the company, valued at approximately $7,517,748.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTV. Morgan Stanley boosted their price objective on shares of Innovid from $1.60 to $2.10 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. TheStreet raised shares of Innovid from a “d” rating to a “c-” rating in a research report on Friday, March 15th. Needham & Company LLC upped their price target on shares of Innovid from $2.25 to $3.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $3.00 target price on shares of Innovid in a report on Wednesday, April 10th.

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.