Innovid (NYSE:CTV) Given New $2.10 Price Target at Morgan Stanley

Innovid (NYSE:CTV - Free Report) had its price objective lifted by Morgan Stanley from $1.60 to $2.10 in a research report released on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

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

Innovid Stock Up 5.8 %

NYSE CTV traded up $0.13 during trading on Tuesday, hitting $2.36. The stock had a trading volume of 305,171 shares, compared to its average volume of 287,611. The company has a market capitalization of $334.70 million, a PE ratio of -10.04 and a beta of 3.31. The company's 50-day moving average price is $2.00 and its two-hundred day moving average price is $1.57. 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 has a 12 month low of $0.85 and a 12 month high of $2.58.

Innovid (NYSE:CTV - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.01). The business had revenue of $38.62 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned ($0.03) EPS.

Insider Buying and Selling at Innovid

In other Innovid news, CEO Zvika Netter purchased 25,000 shares of the company's stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now owns 4,085,733 shares of the company's stock, valued at approximately $7,517,748.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.90% of the company's stock.

Hedge Funds Weigh In On Innovid

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new stake in Innovid during the 1st quarter valued at about $38,000. Bank of New York Mellon Corp purchased a new stake in Innovid during the 1st quarter valued at about $118,000. Bank of Montreal Can purchased a new stake in Innovid in the 1st quarter worth approximately $72,000. Vanguard Group Inc. purchased a new stake in Innovid in the 1st quarter worth approximately $4,253,000. Finally, Lazard Asset Management LLC purchased a new stake in Innovid in the 1st quarter worth approximately $41,000. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

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.