Needham & Company LLC Reiterates “Buy” Rating for Innovid (NYSE:CTV)

Needham & Company LLC restated their buy rating on shares of Innovid (NYSE:CTV) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $3.00 price objective on the stock.

Separately, Morgan Stanley upped their price objective on shares of Innovid from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd.

Innovid Price Performance

Shares of NYSE CTV opened at $1.67 on Wednesday. The stock has a market capitalization of $244.50 million, a PE ratio of -18.56 and a beta of 3.08. Innovid has a fifty-two week low of $1.12 and a fifty-two week high of $2.58. The business has a fifty day moving average price of $1.84 and a two-hundred day moving average price of $1.89.

Institutional Trading of Innovid

Several institutional investors and hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. raised its stake in Innovid by 2.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 402,421 shares of the company’s stock worth $724,000 after acquiring an additional 10,839 shares in the last quarter. FMR LLC grew its holdings in shares of Innovid by 590.2% during the 3rd quarter. FMR LLC now owns 15,413 shares of the company’s stock valued at $28,000 after purchasing an additional 13,180 shares during the last quarter. Miller Investment Management LP acquired a new position in Innovid during the 3rd quarter worth approximately $36,000. SG Americas Securities LLC boosted its position in Innovid by 124.1% in the third quarter. SG Americas Securities LLC now owns 36,605 shares of the company’s stock valued at $66,000 after buying an additional 20,272 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Innovid in the first quarter valued at approximately $58,000. 25.46% of the stock is currently owned by 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.