Innovid (NYSE:CTV) Releases Earnings Results, Misses Expectations By $0.02 EPS

Innovid (NYSE:CTV) announced its quarterly earnings results on Tuesday. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02), RTT News reports. Innovid had a negative return on equity of 8.92% and a negative net margin of 22.81%. The business had revenue of $36.74 million for the quarter, compared to analyst estimates of $35.99 million. During the same period last year, the firm earned ($0.06) EPS.

Innovid Trading Up 2.6 %

Shares of Innovid stock traded up $0.05 on Thursday, reaching $1.99. 41,973 shares of the company’s stock were exchanged, compared to its average volume of 264,429. Innovid has a 52 week low of $0.85 and a 52 week high of $2.58. The firm’s 50-day moving average is $2.23 and its two-hundred day moving average is $1.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.99 and a current ratio of 3.99. The company has a market capitalization of $282.22 million, a P/E ratio of -8.30 and a beta of 3.28.

Analysts Set New Price Targets

CTV has been the subject of several recent analyst reports. Morgan Stanley upped their target price on Innovid from $1.60 to $2.10 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Needham & Company LLC upped their target price on Innovid from $2.25 to $3.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $3.00 target price on shares of Innovid in a report on Wednesday, April 10th. Finally, TheStreet upgraded Innovid from a “d” rating to a “c-” rating in a report on Friday, March 15th.

Insider Buying and Selling

In related news, CEO Zvika Netter purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $1.84 per share, with a total value of $46,000.00. Following the transaction, 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 can be accessed through the SEC website. 9.90% of the stock is 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.