Innovid (NYSE:CTV) Earns Hold Rating from Needham & Company LLC

Innovid (NYSE:CTV - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $3.00 price target on the stock. Needham & Company LLC's target price would indicate a potential downside of 1.64% from the stock's current price.

Separately, JMP Securities downgraded shares of Innovid from an "outperform" rating to a "market perform" rating in a research note on Thursday.

Innovid Stock Performance

NYSE CTV traded up $0.04 during trading hours on Friday, hitting $3.05. The company had a trading volume of 14,085,594 shares, compared to its average volume of 654,789. Innovid has a 1-year low of $1.25 and a 1-year high of $3.05. The company has a market cap of $446.55 million, a PE ratio of -33.53 and a beta of 3.08. The business has a 50 day moving average of $1.86 and a 200-day moving average of $1.89.

Institutional Investors Weigh In On Innovid

A number of hedge funds have recently added to or reduced their stakes in CTV. SG Americas Securities LLC acquired a new stake in Innovid in the first quarter valued at about $56,000. Vanguard Group Inc. lifted its position in Innovid by 6.5% in the first quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company's stock valued at $11,344,000 after purchasing an additional 279,830 shares during the period. Acadian Asset Management LLC increased its holdings in Innovid by 174.3% in the first quarter. Acadian Asset Management LLC now owns 521,866 shares of the company's stock valued at $1,297,000 after buying an additional 331,643 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Innovid in the first quarter valued at about $58,000. Finally, Bank of New York Mellon Corp increased its holdings in 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 valued at $582,000 after buying an additional 304,428 shares in the last quarter. Institutional investors and hedge funds 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.