Innovid (NYSE:CTV) Downgraded by Citizens Jmp to “Hold”

Citizens Jmp cut shares of Innovid (NYSE:CTV) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other research analysts have also weighed in on the stock. JMP Securities lowered shares of Innovid from an “outperform” rating to a “market perform” rating in a research report on Thursday. Needham & Company LLC reiterated a “hold” rating and issued a $3.00 price target on shares of Innovid in a research report on Friday. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.83.

Innovid Price Performance

Innovid stock opened at $3.05 on Thursday. The stock’s 50 day moving average price is $1.89 and its 200 day moving average price is $1.89. Innovid has a 1-year low of $1.25 and a 1-year high of $3.05. The company has a market cap of $452.83 million, a PE ratio of -33.89 and a beta of 3.08.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Innovid by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company’s stock worth $11,344,000 after purchasing an additional 279,830 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Innovid by 5.4% during the third quarter. Royce & Associates LP now owns 4,376,721 shares of the company’s stock valued at $7,878,000 after buying an additional 223,940 shares during the period. Whetstone Capital Advisors LLC lifted its stake in shares of Innovid by 0.7% during the third quarter. Whetstone Capital Advisors LLC now owns 3,268,879 shares of the company’s stock valued at $5,884,000 after buying an additional 23,642 shares during the period. Geode Capital Management LLC boosted its position in Innovid by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,433,158 shares of the company’s stock worth $4,380,000 after acquiring an additional 184,309 shares during the last quarter. Finally, State Street Corp grew its stake in Innovid by 12.6% in the 3rd quarter. State Street Corp now owns 1,188,183 shares of the company’s stock worth $2,139,000 after acquiring an additional 133,281 shares during the period. 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.