Innovid (NYSE:CTV) Given Buy Rating at Needham & Company LLC

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

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

Innovid Stock Performance

CTV stock opened at $1.82 on Wednesday. Innovid has a 52-week low of $1.08 and a 52-week high of $2.58. The business has a 50-day simple moving average of $1.84 and a two-hundred day simple moving average of $1.90. The company has a market capitalization of $266.47 million, a P/E ratio of -20.00 and a beta of 3.08.

Institutional Investors Weigh In On Innovid

Several large investors have recently made changes to their positions in the business. FMR LLC increased its holdings in Innovid by 590.2% during the third quarter. FMR LLC now owns 15,413 shares of the company’s stock worth $28,000 after buying an additional 13,180 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Innovid during the 1st quarter worth approximately $56,000. Lazard Asset Management LLC bought a new stake in shares of Innovid in the 1st quarter worth approximately $58,000. American Century Companies Inc. purchased a new position in Innovid in the second quarter valued at approximately $61,000. Finally, The Manufacturers Life Insurance Company bought a new position in Innovid during the second quarter valued at $81,000. 25.46% of the stock is owned by hedge funds and other 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.