Innovid Stock: Buy Rating and AnalysisInnovid Stock: Buy Rating and Analysis Price Target * Needham & Company LLC: $3.00 (72.41% potential upside) Brokerage Commentary * Morgan Stanley: Raised price target to $2.10, “equal weight” rating * JMP Securities: “Market outperform” rating, $3.00 price target * TheStreet: Upgraded from “d” to “c-” rating Market Performance * Opened at $1.74 on Friday * 12-month low: $0.95 * 12-month high: $2.58 * 50-day moving average: $1.97 * 200-day moving average: $1.90 * Market cap: $251.28 million * P/E ratio: -8.29 * Beta: 3.14 Earnings Results * Q1 2023: EPS of ($0.04), missing consensus estimates by ($0.02) * Revenue of $36.74 million, beating consensus estimate of $35.99 million Insider Transactions * CEO Zvika Netter acquired 20,000 shares at $2.07 per share on May 21st. Institutional Ownership * Corporate insiders own 9.90% of shares. * Institutional investors hold 25.46% of shares. Company Profile Innovid Corp. provides ad serving, measurement, and creative services for TV ads in connected TV, mobile TV, and desktop TV environments. Recommended Articles * [MarketBeat.com: Innovid Corp. (CTV)](https://www.marketbeat.com/stocks/NYSE/CTV/) * [Innovid Corp. Company Profile](https://www.marketbeat.com/stocks/NYSE/CTV/profile/) * [Innovid Corp. Earnings Reports](https://www.marketbeat.com/stocks/NYSE/CTV/earnings/) * [Innovid Corp. News](https://www.marketbeat.com/stocks/NYSE/CTV/news/)
Innovid (NYSE:CTV – Get Free Report)‘s stock had its “buy” rating affirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They currently have a $3.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 72.41% from the company’s previous close.
Several other brokerages have also commented on CTV recently. Morgan Stanley raised 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 reiterated a “market outperform” rating and set a $3.00 price target on shares of Innovid in a research note on Tuesday, June 4th. Finally, TheStreet raised shares of Innovid from a “d” rating to a “c-” rating in a report on Friday, March 15th.
Get our latest analysis on CTV
Innovid shares rise 4.8%
NYSE:CTV opened at $1.74 on Friday. Innovid has a 12-month low of $0.95 and a 12-month high of $2.58. The company’s 50-day moving average is $1.97 and 200-day moving average is $1.90. The company has a market cap of $251.28 million, a price-to-earnings ratio of -8.29, and a beta of 3.14.
Innovid (NYSE:CTV – Get Free Report) last released its quarterly earnings results on Tuesday, May 7. The company reported ($0.04) earnings per share (EPS) for the quarter, which missed analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $36.74 million for the quarter, compared to the consensus estimate of $35.99 million. Innovid had a negative net margin of 20.24% and a negative return on equity of 7.81%. In the year-ago quarter, the company earned ($0.06) EPS. Research analysts predict that Innovid will post -0.04 EPS for the current fiscal year.
Insiders place their bets
In related news, CEO Zvika Netter acquired 20,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $2.07 per share, for a total value of $41,400.00. Following the completion of the acquisition, the CEO now owns 4,960,733 shares of the company’s stock, valued at $10,268,717.31. The acquisition was disclosed in a filing with the SEC, which is available on the SEC website. In other news, CEO Zvika Netter acquired 20,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $2.07 per share, for a total value of $41,400.00. Following the completion of the purchase, the chief executive officer now owns 4,960,733 shares of the company’s stock, valued at $10,268,717.31. The acquisition was disclosed in a filing with the SEC, which can be accessed at this hyperlink. Also, major shareholder Sequoia Capital Israel IV Hold sold 8,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $2.10, for a total value of $16,800,000.00. Following the sale, the insider now owns 9,697,224 shares of the company’s stock, valued at $20,364,170.40. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.
Institutional inflow and outflow
A number of institutional investors have recently made changes to their positions in CTV. Vanguard Group Inc. increased its position in Innovid by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company’s stock worth $11,344,000 after purchasing an additional 279,830 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Innovid in the 1st quarter worth $58,000. SG Americas Securities LLC purchased a new stake in shares of Innovid in the first quarter worth $56,000. Finally, Acadian Asset Management LLC increased its stake in shares of Innovid by 174.3% in the first quarter. Acadian Asset Management LLC now owns 521,866 shares of the company’s stock, worth $1,297,000, after acquiring an additional 331,643 shares during the period. Institutional investors hold 25.46% of the shares.
Company profile of Innovid
(Get free report)
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 in connected TV, mobile TV and desktop TV environments to advertisers, publishers and media agencies.
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