Needham & Company LLC Boosts Innovid (NYSE:CTV) Price Target to $3.00

Innovid (NYSE:CTV) had its target price increased by Needham & Company LLC from $2.25 to $3.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 35.14% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Morgan Stanley lifted their price objective on Innovid from $1.60 to $2.10 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. TheStreet upgraded Innovid from a “d” rating to a “c-” rating in a report on Friday, March 15th. Finally, JMP Securities reiterated a “market outperform” rating and set a $3.00 price objective on shares of Innovid in a report on Wednesday, April 10th.

Innovid Stock Down 1.3 %

Innovid stock opened at $2.22 on Wednesday. The firm has a market capitalization of $314.84 million, a price-to-earnings ratio of -9.65 and a beta of 3.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.99 and a current ratio of 3.99. Innovid has a fifty-two week low of $0.85 and a fifty-two week high of $2.58. The stock’s fifty day moving average is $2.23 and its two-hundred day moving average is $1.70.

Innovid (NYSE:CTV) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). 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 business earned ($0.06) earnings per share.

Insider Transactions at Innovid

In other news, CEO Zvika Netter purchased 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $1.84 per share, for a total transaction of $46,000.00. Following the completion of the purchase, the chief executive officer now owns 4,085,733 shares of the company’s stock, valued at $7,517,748.72. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Innovid

A number of large investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Innovid in the 3rd quarter worth about $3,098,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Innovid by 29.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 215,538 shares of the company’s stock worth $276,000 after buying an additional 48,704 shares in the last quarter. Acadian Asset Management LLC increased its position in Innovid by 230.9% in the 3rd quarter. Acadian Asset Management LLC now owns 190,223 shares of the company’s stock valued at $242,000 after acquiring an additional 132,728 shares during the period. Jump Financial LLC bought a new stake in Innovid during the 3rd quarter valued at $34,000. Finally, SG Americas Securities LLC acquired a new position in Innovid during the 1st quarter worth $56,000. 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.