Innovid Corp (NYSE: CTV) fell over 6% of its trading prices in the last two trading sessions. On June 15’s trading session, CTV Stock lost 6.96%. It opened trading at $1.12, slipped to $1.04, and then bounced back to its high of $1.19, and finally closed trading at $1.07 with a trading volume of 653.63k.
In its trading session of June 16, CTV Stock fell below $1.00. It opened trading at $1.08 and after slipping as low as $0.9800 it hit a high of $1.10 and closed trading at $1.0000. The average trading volume in the same session was 1.131 million, indicating a greater number of sellers than buyers.
In the last one week, CTV Stock price fell by more than 14.50% but prices surged 6.38% in the last one month. After analysing the technicalities of CTV Stock, it may be assumed that it is not currently suitable for buying and holding.
However, analysts advise buying and holding of CTV stocks, and they also believe that by the end of 2023, the company’s stock will be traded at $2.2750. Around 104.155 million shares of Innovid Corp are free-floating and the remaining 33.04 million are closely held either by financial backers of the company or by the board of directors.
Recent News
Innovid Corp announced a first-to-market relationship with Upwave, an analytics platform for brand advertising. The announcement was made earlier this week and the partnership will aim to employ brand KPI signals for automated creative optimisation across digital channels, including CTV, ensuring budget flows to top performing advertisements automatically.
Innovid Corp. (CTV Stock) Earnings and Revenue
In Q1 2023, Innovid Corp reported 3.22% more revenue compared to the estimated figures. According to the predictions, the company was expected to report a revenue of $29.53 million but the actual revenue was $30.48 million.
In Q1 2023, the total revenue consisted of $20.19 million Gross profit, -$8.21 million operating income, pretax income -$5.74 Million, and -$8.56 million net income.
In the last quarter of 2022, the company reported -4.99% less revenue when compared to the estimated figures. The company’s estimated revenue was $35.47 million but it reported $33.07 million. Since the third quarter of 2022 till Q1 2023, Innovid Corp has been reporting negative Earnings Per Share and in Q1 2023, EPS declined over – 28.57%.
The revenue-to-profit conversion is 72% Gross profit, -19% Ebitda, -23% Ebit and -14% Net income. Majority of the company’s revenue is generated from Ad servicing, Measurement, and Creative Services.
United States users contribute the most to Innovid Corp’s revenue followed by EMEA, APAC, Canada, Latin America. The company has $93.83 million in assets and $21.19 million in liabilities in the short-term.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/19/ctv-stock-has-slipped-below-1-00-and-could-bypass-52-weeks-low/