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

Needham & Company LLC reiterated their hold rating on shares of Innovid (NYSE:CTV) in a research note released on Friday, Marketbeat Ratings reports. The brokerage currently has a $3.00 price objective on the stock.

Separately, JMP Securities downgraded shares of Innovid from an “outperform” rating to a “market perform” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Innovid currently has a consensus rating of “Hold” and a consensus price target of $2.83.

Innovid Price Performance

CTV opened at $3.05 on Friday. The firm’s fifty day moving average price is $1.89 and its two-hundred day moving average price is $1.89. The company has a market capitalization of $452.84 million, a price-to-earnings ratio of -33.89 and a beta of 3.08. Innovid has a 1 year low of $1.25 and a 1 year high of $3.05.

Hedge Funds Weigh In On Innovid

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Innovid in the first quarter worth about $56,000. Vanguard Group Inc. increased its stake in shares of Innovid by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company’s stock worth $11,344,000 after purchasing an additional 279,830 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Innovid by 174.3% in the first quarter. Acadian Asset Management LLC now owns 521,866 shares of the company’s stock valued at $1,297,000 after purchasing an additional 331,643 shares during the last quarter. Lazard Asset Management LLC bought a new position in Innovid during the first quarter valued at $58,000. Finally, Bank of New York Mellon Corp grew its holdings 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 valued at $582,000 after purchasing an additional 304,428 shares during the period. 25.46% of the stock is owned by hedge funds and other institutional investors.

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.