Innovid (NYSE:CTV) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

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

Innovid Trading Down 6.3 %

Shares of NYSE CTV traded down $0.14 during mid-day trading on Wednesday, reaching $2.08. The company had a trading volume of 64,280 shares, compared to its average volume of 264,243. The business’s 50-day moving average is $2.23 and its 200-day moving average is $1.70. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.10. Innovid has a 52 week low of $0.85 and a 52 week high of $2.58. The stock has a market cap of $294.99 million, a price-to-earnings ratio of -9.00 and a beta of 3.28.

Insider Activity at Innovid

In other news, CEO Zvika Netter bought 25,000 shares of the stock in a transaction 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 acquisition, the chief executive officer now owns 4,085,733 shares of the company’s stock, valued at $7,517,748.72. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

CTV has been the subject of several analyst reports. TheStreet raised shares of Innovid from a “d” rating to a “c-” rating in a report on Friday, March 15th. Morgan Stanley lifted their target price on shares of Innovid from $1.60 to $2.10 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Needham & Company LLC boosted their price objective on Innovid from $2.25 to $3.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JMP Securities reissued a “market outperform” rating and issued a $3.00 price target on shares of Innovid in a report on Wednesday, April 10th.

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.