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

Innovid (NYSE:CTV) had its target price lifted by Morgan Stanley from $1.60 to $2.10 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also issued reports on CTV. TheStreet upgraded Innovid from a d rating to a c- rating in a research report on Friday, March 15th. JMP Securities reiterated a market outperform rating and issued a $3.00 price objective on shares of Innovid in a report on Wednesday, April 10th. Finally, Needham & Company LLC reiterated a buy rating and issued a $2.25 price objective on shares of Innovid in a report on Tuesday, February 27th.

Innovid Price Performance

CTV opened at $2.21 on Tuesday. The stock’s 50 day simple moving average is $2.07 and its 200 day simple moving average is $1.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.99 and a quick ratio of 3.99. Innovid has a 1 year low of $0.85 and a 1 year high of $2.58. The firm has a market cap of $313.42 million, a price-to-earnings ratio of -9.61 and a beta of 3.31.

Innovid (NYSE:CTV) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (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 analyst estimates of $36.90 million. During the same period last year, the company earned ($0.03) EPS.

Insider Activity

In other news, CEO Zvika Netter bought 25,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $1.84 per share, for a total transaction of $46,000.00. Following the purchase, the chief executive officer now directly owns 4,085,733 shares in the company, valued at approximately $7,517,748.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in shares of Innovid in the 1st quarter valued at approximately $30,000. JPMorgan Chase & Co. purchased a new position in Innovid during the first quarter valued at $38,000. Lazard Asset Management LLC purchased a new position in Innovid during the first quarter valued at $41,000. Bank of Montreal Can purchased a new position in Innovid during the first quarter valued at $72,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Innovid during the third quarter valued at $33,000. Hedge funds and other 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.