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

Innovid (NYSE:CTV) had its price target boosted by equities researchers at Morgan Stanley from $1.60 to $2.10 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 9.09% from the company’s previous close.

CTV has been the topic of several other reports. TheStreet upgraded shares of 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 set a $3.00 target price on shares of Innovid in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $2.25 target price on shares of Innovid in a research report on Tuesday, February 27th.

Innovid Stock Up 3.6 %

CTV stock traded up $0.08 during midday trading on Tuesday, reaching $2.31. The company had a trading volume of 87,954 shares, compared to its average volume of 284,535. The company has a market capitalization of $327.60 million, a P/E ratio of -10.09 and a beta of 3.31. The company has a 50 day moving average of $2.00 and a two-hundred day moving average of $1.57. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.10. Innovid has a 1 year low of $0.85 and a 1 year high of $2.58.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CTV. Bank of America Corp DE acquired a new position in shares of Innovid in the first quarter valued at approximately $30,000. JPMorgan Chase & Co. acquired a new position in shares of Innovid in the first quarter valued at approximately $38,000. Lazard Asset Management LLC acquired a new position in shares of Innovid in the first quarter valued at approximately $41,000. Bank of Montreal Can acquired a new position in shares of Innovid in the first quarter valued at approximately $72,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Innovid in the third quarter valued at approximately $33,000. Institutional investors and hedge funds 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.