Innovid (NYSE:CTV) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Innovid (NYSE:CTV) released its quarterly earnings results on Tuesday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02), RTT News reports. The firm had revenue of $36.74 million for the quarter, compared to the consensus estimate of $35.99 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 company earned ($0.06) earnings per share.

Innovid Stock Down 6.3 %

CTV stock traded down $0.14 during mid-day trading on Wednesday, reaching $2.08. 64,280 shares of the company traded hands, compared to its average volume of 264,243. The stock has a market cap of $294.99 million, a price-to-earnings ratio of -9.00 and a beta of 3.28. Innovid has a fifty-two week low of $0.85 and a fifty-two week high of $2.58. The firm’s 50 day moving average price is $2.23 and its 200 day moving average price is $1.70. The company has a quick ratio of 3.99, a current ratio of 3.99 and a debt-to-equity ratio of 0.10.

Analyst Upgrades and Downgrades

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

Insider Activity at Innovid

In related news, CEO Zvika Netter acquired 25,000 shares of the company’s stock in a transaction on 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 purchase, the chief executive officer now owns 4,085,733 shares in the company, valued at $7,517,748.72. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 9.90% of the stock is owned by insiders.

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.