Innovid (NYSE:CTV) Stock Rating Reaffirmed by JMP Securities

Innovid (NYSE:CTV)‘s stock had its “market outperform” rating reaffirmed by analysts at JMP Securities in a report released on Wednesday, Benzinga reports. They currently have a $3.00 target price on the stock. JMP Securities’ price target would suggest a potential upside of 24.48% from the company’s previous close.

Several other research analysts have also weighed in on CTV. Morgan Stanley raised their price objective on shares of Innovid from $1.50 to $1.60 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. TheStreet upgraded Innovid from a “d” rating to a “c-” rating in a research note on Friday, March 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $2.25 target price on shares of Innovid in a research report on Tuesday, February 27th.

Innovid Stock Performance

Shares of CTV stock opened at $2.41 on Wednesday. The company’s fifty day moving average price is $1.97 and its two-hundred day moving average price is $1.55. 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 firm has a market capitalization of $341.79 million, a P/E ratio of -10.48 and a beta of 3.31. Innovid has a 12 month low of $0.75 and a 12 month high of $2.55.

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

Insider Activity

In related news, CEO Zvika Netter purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $1.84 per share, for a total transaction of $46,000.00. Following the transaction, the chief executive officer now owns 4,085,733 shares of the company’s stock, valued at $7,517,748.72. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Innovid

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted 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 acquiring an additional 590,589 shares during the period. Vanguard Group Inc. lifted its holdings in Innovid by 2.9% in the fourth 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 grew its position in Innovid by 353.6% in the 2nd quarter. Whetstone Capital Advisors LLC now owns 3,565,848 shares of the company’s stock valued at $3,887,000 after buying an additional 2,779,658 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Innovid during the 3rd quarter valued at about $3,098,000. Finally, Geode Capital Management LLC raised its position in shares of 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 buying an additional 67,735 shares in the last quarter. 25.46% of the stock is currently owned by institutional investors and hedge funds.

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.