Morgan Stanley Boosts Innovid (NYSE:CTV) Price Target to $2.10

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

Other research analysts also recently issued reports about the stock. JMP Securities reaffirmed a market outperform rating and issued a $3.00 price objective on shares of Innovid in a report on Wednesday, April 10th. Needham & Company LLC reaffirmed a buy rating and issued a $2.25 price target on shares of Innovid in a report on Tuesday, February 27th. Finally, TheStreet upgraded Innovid from a d rating to a c- rating in a research note on Friday, March 15th.

Innovid Stock Performance

Shares of CTV opened at $2.37 on Tuesday. Innovid has a 1 year low of $0.85 and a 1 year high of $2.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.99 and a quick ratio of 3.99. The stock’s fifty day moving average price is $2.05 and its two-hundred day moving average price is $1.59. The firm has a market cap of $336.11 million, a PE ratio of -10.30 and a beta of 3.31.

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

Insiders Place Their Bets

In other news, CEO Zvika Netter purchased 25,000 shares of Innovid stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of $1.84 per share, for a total transaction of $46,000.00. Following the transaction, the chief executive officer now directly 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 is available at the SEC website. Corporate insiders own 9.90% of the company’s stock.

Institutional Trading of Innovid

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE purchased a new stake in Innovid during the first quarter valued at about $30,000. JPMorgan Chase & Co. purchased a new stake in Innovid during the first quarter valued at about $38,000. Lazard Asset Management LLC bought a new position in shares of Innovid during the first quarter valued at about $41,000. Bank of Montreal Can purchased a new position in shares of Innovid in the first quarter worth about $72,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Innovid in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 25.46% of the company’s stock.

About Innovid

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.