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

Innovid (NYSE:CTV) had its price target upped by equities researchers at 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. Morgan Stanley’s price objective would indicate a potential downside of 9.87% from the company’s previous close.

CTV has been the topic of a number of other research reports. TheStreet raised Innovid from a “d” rating to a “c-” rating in a report on Friday, March 15th. Needham & Company LLC reissued a “buy” rating and set a $2.25 price objective on shares of Innovid in a report on Tuesday, February 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $3.00 price objective on shares of Innovid in a report on Wednesday, April 10th.

Innovid Trading Down 1.7 %

Shares of CTV stock opened at $2.33 on Tuesday. The stock’s fifty day moving average price is $2.04 and its two-hundred day moving average price is $1.58. The company has a market cap of $330.45 million, a PE ratio of -10.13 and a beta of 3.31. Innovid has a fifty-two week low of $0.85 and a fifty-two week 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 issued its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $38.62 million for 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 last year, the business posted ($0.03) EPS.

Insider Activity at Innovid

In other news, CEO Zvika Netter acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average price of $1.84 per share, with a total value of $46,000.00. Following the acquisition, the chief executive officer now directly owns 4,085,733 shares in the company, valued at approximately $7,517,748.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its position in Innovid by 230.9% during the 3rd quarter. Acadian Asset Management LLC now owns 190,223 shares of the company’s stock worth $242,000 after purchasing an additional 132,728 shares during the last quarter. Jump Financial LLC bought a new position in Innovid during the 3rd quarter worth $34,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Innovid by 29.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 215,538 shares of the company’s stock worth $276,000 after purchasing an additional 48,704 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Innovid during the 3rd quarter worth $3,098,000. Finally, Lazard Asset Management LLC bought a new position in shares of Innovid in the 1st quarter worth about $41,000. 25.46% of the stock is owned by institutional investors.

Innovid Company Profile

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.