Innovid (NYSE:CTV) Issues Earnings Results

Innovid (NYSE:CTV) posted its quarterly earnings data on Tuesday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $36.74 million during the quarter, compared to analysts’ expectations of $35.99 million. During the same quarter in the prior year, the firm posted ($0.06) EPS.

Innovid Price Performance

Shares of NYSE:CTV traded down $0.13 during trading on Wednesday, hitting $2.09. 71,370 shares of the stock were exchanged, compared to its average volume of 264,331. Innovid has a 12-month low of $0.85 and a 12-month high of $2.58. The company has a market cap of $296.40 million, a PE ratio of -9.00 and a beta of 3.28. The company has a fifty day moving average price of $2.23 and a two-hundred day moving average price of $1.70. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.10.

Insider Buying and Selling

In other Innovid news, CEO Zvika Netter acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average cost of $1.84 per share, with a total value of $46,000.00. Following the purchase, the chief executive officer now owns 4,085,733 shares in the company, valued at $7,517,748.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on CTV. JMP Securities reiterated a “market outperform” rating and issued a $3.00 price target on shares of Innovid in a research note on Wednesday, April 10th. Morgan Stanley increased their price target on Innovid from $1.60 to $2.10 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. TheStreet upgraded shares of Innovid from a “d” rating to a “c-” rating in a research report on Friday, March 15th. Finally, Needham & Company LLC lifted their price objective on Innovid from $2.25 to $3.00 and gave the company a “buy” rating in a report on Wednesday.

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.