Innovid (NYSE:CTV) Releases Quarterly Earnings Results, Misses Estimates 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 the consensus estimate of ($0.02) by ($0.02), RTT News reports. The firm had revenue of $36.74 million for the quarter, compared to analyst estimates of $35.99 million. Innovid had a negative net margin of 22.81% and a negative return on equity of 8.92%. During the same period in the previous year, the firm posted ($0.06) EPS.

Innovid Trading Up 2.6 %

Shares of CTV stock traded up $0.05 during trading hours on Thursday, hitting $1.99. 41,973 shares of the company were exchanged, compared to its average volume of 264,429. The company has a quick ratio of 3.99, a current ratio of 3.99 and a debt-to-equity ratio of 0.10. The firm has a market cap of $282.22 million, a PE ratio of -8.30 and a beta of 3.28. Innovid has a 1 year low of $0.85 and a 1 year high of $2.58. The firm has a fifty day moving average of $2.23 and a 200 day moving average of $1.70.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CTV shares. JMP Securities restated a “market outperform” rating and set a $3.00 target price on shares of Innovid in a research note on Wednesday, April 10th. Needham & Company LLC upped their target price on shares of Innovid from $2.25 to $3.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley increased their price target on shares of Innovid from $1.60 to $2.10 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Finally, TheStreet upgraded shares of Innovid from a “d” rating to a “c-” rating in a research report on Friday, March 15th.

Insiders Place Their Bets

In other news, CEO Zvika Netter acquired 25,000 shares of Innovid stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $1.84 per share, with a total value of $46,000.00. Following the purchase, 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 legal filing with the SEC, which can be accessed through this link. 9.90% of the stock is currently owned by insiders.

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.