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

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

A number of other analysts also recently issued reports on CTV. JMP Securities restated a market outperform rating and issued a $3.00 price target on shares of Innovid in a research report on Wednesday, April 10th. TheStreet upgraded Innovid from a d rating to a c- rating in a research report on Friday, March 15th. Finally, Needham & Company LLC reiterated a buy rating and issued a $2.25 price target on shares of Innovid in a report on Tuesday, February 27th.

Innovid Stock Performance

NYSE:CTV opened at $2.37 on Tuesday. Innovid has a 12-month low of $0.85 and a 12-month high of $2.58. The stock has a 50-day moving average price of $2.05 and a 200 day moving average price of $1.59. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $336.11 million, a P/E ratio of -10.30 and a beta of 3.31.

Innovid (NYSE:CTV) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business 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 in the previous year, the company posted ($0.03) EPS.

Insider Transactions at Innovid

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

Institutional Trading of Innovid

Several hedge funds and other institutional investors have recently bought and sold shares of CTV. Vanguard Group Inc. lifted its holdings in shares of Innovid by 398.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,223,094 shares of the company’s stock valued at $11,445,000 after purchasing an additional 3,375,086 shares during the last quarter. Whetstone Capital Advisors LLC boosted its holdings in Innovid by 353.6% in the second quarter. Whetstone Capital Advisors LLC now owns 3,565,848 shares of the company’s stock worth $3,887,000 after acquiring an additional 2,779,658 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Innovid during the third quarter worth about $3,098,000. Renaissance Technologies LLC acquired a new position in shares of Innovid during the second quarter valued at about $914,000. Finally, Ameriprise Financial Inc. raised its position in shares of Innovid by 15.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,535,215 shares of the company’s stock valued at $5,805,000 after purchasing an additional 590,589 shares during the last quarter. Institutional investors own 25.46% of the company’s stock.

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.