During the recent session, Innovid Corp. (NYSE:CTV)’s traded shares were 0.49 million. At the last check today, the stock’s price was $1.24, reflecting an intraday gain of 2.92% or $0.04. The 52-week high for the CTV share is $5.42, that puts it down -337.1 from that peak though still a striking 39.52% gain since the share price plummeted to a 52-week low of $0.75. The company’s market capitalization is $164.63M, and the average intraday trading volume over the past 10 days was 1.02 million shares, and the average trade volume was 505.53K shares over the past three months.
Innovid Corp. (CTV) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. CTV has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.03.
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Innovid Corp. (NYSE:CTV) trade information
Innovid Corp. (CTV) registered a 2.92% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.92% in intraday trading to $1.24 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 28.65%, and it has moved by 27.90% in 30 days. Based on these gigs, the overall price performance for the year is -75.59%. The short interest in Innovid Corp. (NYSE:CTV) is 1.93 million shares and it means that shorts have 3.2 day(s) to cover.
The consensus price target of analysts on Wall Street is $2.28, which implies an increase of 45.61% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.10 and $3.00 respectively. As a result, CTV is trading at a discount of -141.94% off the target high and 11.29% off the low.
Innovid Corp. (CTV) estimates and forecasts
Statistics show that Innovid Corp. has underperformed its competitors in share price, compared to the industry in which it operates. Innovid Corp. (CTV) shares have gone down -58.70% during the last six months, with a year-to-date growth rate less than the industry average at 0.00% against 16.00. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -200.00% this quarter and then jump 77.80% in the quarter after that. In the rating firms’ projections, revenue will increase 3.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $32 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $32.8 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $33.09 million and $34.47 million respectively. In this case, analysts expect current quarter sales to shrink by -3.30% and then drop by -4.80% in the coming quarter.
While earnings are projected to return 81.10% in 2023.
Innovid Corp. is due to release its next quarterly earnings on May 09. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Innovid Corp. (NYSE:CTV)’s Major holders
Innovid Corp. insiders own 14.17% of total outstanding shares while institutional holders control 54.83%, with the float percentage being 63.88%. SC Israel IV Genpar, Ltd. is the largest shareholder of the company, while 96 institutions own stock in it. As of Mar 30, 2023, the company held over 17.7 million shares (or 12.90% of all shares), a total value of $24.95 million in shares.
The next largest institutional holding, with 7.05 million shares, is of Vintage Ventures Advisors Ltd.’s that is approximately 5.14% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $9.94 million.
Also, the Mutual Funds coming in first place with the largest holdings of Innovid Corp. (CTV) shares are Baron Global Advantage Fund and Vanguard Total Stock Market Index Fund. Data provided on Dec 30, 2022 indicates that Baron Global Advantage Fund owns about 3.38 million shares. This amounts to just over 2.48 percent of the company’s overall shares, with a $5.77 million market value. The same data shows that the other fund manager holds slightly less at 2.58 million, or about 1.90% of the stock, which is worth about $4.42 million.