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

Innovid (NYSE:CTV) issued its quarterly earnings data 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 company had revenue of $36.74 million for the quarter, compared to analysts’ expectations of $35.99 million. During the same quarter last year, the company earned ($0.06) earnings per share.

Innovid Price Performance

CTV stock traded down $0.03 on Friday, reaching $2.00. The company had a trading volume of 26,086 shares, compared to its average volume of 262,864. Innovid has a 1 year low of $0.85 and a 1 year high of $2.58. 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’s fifty day moving average is $2.24 and its 200 day moving average is $1.71. The company has a market cap of $283.64 million, a P/E ratio of -8.96 and a beta of 3.28.

Insider Activity at Innovid

In other Innovid news, CEO Zvika Netter acquired 25,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $1.84 per share, for a total transaction of $46,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,085,733 shares of the company’s stock, valued at $7,517,748.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CTV has been the topic of a number of research reports. Needham & Company LLC increased their price objective on Innovid from $2.25 to $3.00 and gave the company a “buy” rating in a report on Wednesday. TheStreet raised Innovid from a “d” rating to a “c-” rating in a report on Friday, March 15th. JMP Securities reiterated a “market outperform” rating and set a $3.00 target price on shares of Innovid in a research report on Wednesday, April 10th. Finally, Morgan Stanley boosted their price target on Innovid from $1.60 to $2.10 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th.

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.