Innovid (NYSE:CTV) Given New $2.10 Price Target at Morgan Stanley

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

Several other research analysts have also recently issued reports on CTV. Needham & Company LLC reaffirmed a buy rating and set a $2.25 price objective on shares of Innovid in a research report on Tuesday, February 27th. 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. Finally, TheStreet raised Innovid from a d rating to a c- rating in a research report on Friday, March 15th.

Innovid Price Performance

Shares of NYSE CTV opened at $2.36 on Tuesday. The stock’s 50-day moving average is $2.02 and its two-hundred day moving average is $1.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.99 and a quick ratio of 3.99. Innovid has a 1-year low of $0.85 and a 1-year high of $2.58. The company has a market cap of $334.70 million, a price-to-earnings ratio of -10.26 and a beta of 3.31.

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

Insider Activity at Innovid

In other news, CEO Zvika Netter bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $1.84 per share, with a total value of $46,000.00. Following the transaction, the chief executive officer now directly owns 4,085,733 shares in the company, valued at $7,517,748.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 9.90% of the company’s stock.

Institutional Trading of Innovid

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in Innovid during the 1st quarter valued at approximately $30,000. Charles Schwab Investment Management Inc. raised its stake in Innovid by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 210,020 shares of the company’s stock valued at $359,000 after acquiring an additional 5,894 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Innovid during the 1st quarter valued at approximately $38,000. Lazard Asset Management LLC purchased a new stake in Innovid during the 1st quarter valued at approximately $41,000. Finally, Bank of Montreal Can purchased a new stake in Innovid during the 1st quarter valued at approximately $72,000. 25.46% of the stock is owned by hedge funds and other institutional investors.

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.