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

Innovid (NYSE:CTV) had its price target lifted by research analysts at Morgan Stanley from $1.60 to $2.10 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 9.09% from the company’s current price.

A number of other brokerages have also recently commented on CTV. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.25 price target on shares of Innovid in a research note on Tuesday, February 27th. TheStreet raised Innovid from a “d” rating to a “c-” rating in a research note on Friday, March 15th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $3.00 price target on shares of Innovid in a research note on Wednesday, April 10th.

Innovid Price Performance

NYSE:CTV traded up $0.08 during mid-day trading on Tuesday, reaching $2.31. The stock had a trading volume of 87,954 shares, compared to its average volume of 284,535. The firm has a 50 day moving average price of $2.00 and a two-hundred day moving average price of $1.57. The stock has a market capitalization of $327.60 million, a P/E ratio of -10.09 and a beta of 3.31. Innovid has a one year low of $0.85 and a one year high of $2.58. 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 (NYSE:CTV) last released its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $38.62 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted ($0.03) EPS.

Insider Activity

In other Innovid news, CEO Zvika Netter bought 25,000 shares of Innovid stock in a transaction dated Wednesday, February 28th. The shares were purchased 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 owns 4,085,733 shares of the company’s stock, valued at $7,517,748.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Innovid

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in Innovid in the first quarter worth $38,000. Bank of New York Mellon Corp bought a new position in shares of Innovid during the first quarter valued at $118,000. Bank of Montreal Can bought a new position in shares of Innovid during the first quarter valued at $72,000. Vanguard Group Inc. bought a new position in shares of Innovid during the first quarter valued at $4,253,000. Finally, Lazard Asset Management LLC bought a new position in shares of Innovid during the first quarter valued at $41,000. 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.