Innovid’s (CTV) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Innovid (NYSE:CTV) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $3.00 price target on the stock.

Separately, Morgan Stanley boosted their price target on shares of Innovid from $2.20 to $2.50 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd.

Innovid Stock Down 2.9 %

Shares of CTV opened at $1.67 on Wednesday. The firm’s fifty day moving average is $1.84 and its two-hundred day moving average is $1.89. The stock has a market cap of $244.50 million, a PE ratio of -18.56 and a beta of 3.08. Innovid has a 52-week low of $1.12 and a 52-week high of $2.58.

Institutional Trading of Innovid

Several institutional investors and hedge funds have recently bought and sold shares of CTV. SG Americas Securities LLC purchased a new stake in Innovid in the 1st quarter valued at about $56,000. Vanguard Group Inc. raised its holdings in Innovid by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company’s stock valued at $11,344,000 after buying an additional 279,830 shares during the period. Acadian Asset Management LLC raised its holdings in Innovid by 174.3% in the 1st quarter. Acadian Asset Management LLC now owns 521,866 shares of the company’s stock valued at $1,297,000 after buying an additional 331,643 shares during the period. Lazard Asset Management LLC purchased a new stake in Innovid during the first quarter worth about $58,000. Finally, Bank of New York Mellon Corp increased its stake in Innovid by 2,993.1% during the second quarter. Bank of New York Mellon Corp now owns 314,599 shares of the company’s stock worth $582,000 after purchasing an additional 304,428 shares during the period. 25.46% of the stock is currently owned by hedge funds and other 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.