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

Innovid (NYSE:CTV)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $3.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 74.42% from the stock’s previous close.

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

Innovid Trading Down 5.0 %

Shares of Innovid stock opened at $1.72 on Wednesday. Innovid has a 12 month low of $1.08 and a 12 month high of $2.58. The firm has a market capitalization of $251.83 million, a P/E ratio of -19.11 and a beta of 3.08. The business has a fifty day simple moving average of $1.84 and a two-hundred day simple moving average of $1.90.

Hedge Funds Weigh In On Innovid

A number of hedge funds have recently bought and sold shares of CTV. SG Americas Securities LLC purchased a new position in Innovid in the first quarter worth about $56,000. Vanguard Group Inc. lifted 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 valued at $11,344,000 after acquiring an additional 279,830 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Innovid by 174.3% during the 1st quarter. Acadian Asset Management LLC now owns 521,866 shares of the company’s stock valued at $1,297,000 after purchasing an additional 331,643 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Innovid in the 1st quarter worth $58,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Innovid by 2,993.1% in the second quarter. Bank of New York Mellon Corp now owns 314,599 shares of the company’s stock worth $582,000 after purchasing an additional 304,428 shares during the last quarter. Institutional investors own 25.46% of the company’s stock.

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.