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

Innovid (NYSE:CTV)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Marketbeat.com reports. They currently have a $3.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential downside of 1.64% from the company’s previous close.

Separately, JMP Securities cut Innovid from an “outperform” rating to a “market perform” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.83.

Innovid Stock Up 1.3 %

NYSE CTV opened at $3.05 on Friday. Innovid has a twelve month low of $1.25 and a twelve month high of $3.05. The stock has a market cap of $452.83 million, a P/E ratio of -33.89 and a beta of 3.08. The company’s 50-day simple moving average is $1.89 and its 200 day simple moving average is $1.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in Innovid by 590.2% during the 3rd quarter. FMR LLC now owns 15,413 shares of the company’s stock worth $28,000 after acquiring an additional 13,180 shares during the last quarter. Miller Investment Management LP bought a new stake in shares of Innovid during the third quarter valued at approximately $36,000. SG Americas Securities LLC acquired a new stake in shares of Innovid in the first quarter valued at approximately $56,000. Lazard Asset Management LLC bought a new position in Innovid in the 1st quarter worth approximately $58,000. Finally, American Century Companies Inc. bought a new position in Innovid in the 2nd quarter worth approximately $61,000. 25.46% of the stock is owned by institutional investors and hedge funds.

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.