Innovid (CTV) to Release Quarterly Earnings on Tuesday

Innovid (NYSE:CTV) is scheduled to be announcing its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter. Innovid has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Innovid (NYSE:CTV) last announced its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) 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 firm had revenue of $38.62 million during the quarter, compared to analyst estimates of $36.90 million. During the same quarter in the prior year, the company earned ($0.03) EPS.

Innovid Trading Down 1.3 %

Shares of NYSE:CTV opened at $2.31 on Tuesday. Innovid has a 52-week low of $0.85 and a 52-week high of $2.58. The stock has a 50 day moving average price of $2.16 and a 200-day moving average price of $1.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.99 and a quick ratio of 3.99.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CTV shares. TheStreet raised Innovid from a “d” rating to a “c-” rating in a research report on Friday, March 15th. Morgan Stanley upped their price target on Innovid from $1.60 to $2.10 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. JMP Securities restated a “market outperform” rating and issued a $3.00 price target on shares of Innovid in a research note on Wednesday, April 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $2.25 price target on shares of Innovid in a research note on Tuesday, February 27th.

Insider Buying and Selling

In other Innovid news, CEO Zvika Netter bought 25,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were acquired at an average cost of $1.84 per share, for a total transaction of $46,000.00. Following the purchase, the chief executive officer now owns 4,085,733 shares in the company, valued at approximately $7,517,748.72. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.90% of the stock is currently owned by company insiders.

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.