Innovid (CTV) Set to Announce Quarterly Earnings on Tuesday

Innovid (NYSE:CTV) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, August 6th. Analysts expect Innovid to post earnings of ($0.01) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Innovid (NYSE:CTV) last released its earnings results on Tuesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $36.74 million for the quarter, compared to analyst estimates of $35.99 million. Innovid had a negative net margin of 20.24% and a negative return on equity of 7.81%. During the same quarter in the previous year, the company earned ($0.06) earnings per share. On average, analysts expect Innovid to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Innovid Price Performance

NYSE CTV opened at $1.92 on Monday. The company’s fifty day moving average is $1.94 and its two-hundred day moving average is $1.96. Innovid has a 52-week low of $0.95 and a 52-week high of $2.58. The firm has a market capitalization of $277.27 million, a price-to-earnings ratio of -9.14 and a beta of 3.14.

Insider Transactions at Innovid

In related news, CEO Zvika Netter purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of $2.07 per share, with a total value of $41,400.00. Following the purchase, the chief executive officer now directly owns 4,960,733 shares in the company, valued at $10,268,717.31. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Sequoia Capital Israel Iv Hold sold 8,000,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $2.10, for a total transaction of $16,800,000.00. Following the sale, the insider now directly owns 9,697,224 shares in the company, valued at approximately $20,364,170.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Zvika Netter acquired 20,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was acquired at an average price of $2.07 per share, with a total value of $41,400.00. Following the transaction, the chief executive officer now owns 4,960,733 shares in the company, valued at approximately $10,268,717.31. The disclosure for this purchase can be found here. 9.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CTV has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Innovid from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and set a $3.00 price objective on shares of Innovid in a report on Friday, July 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $3.00 target price on shares of Innovid in a research note on Tuesday, June 4th.

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.