Is Innovid Corp. (CTV) A Smart Long-Term Buy?

Baron Funds, an asset management firm, published its “Baron Opportunity Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. An increase of 3.16% was delivered by the fund’s institutional shares for the fourth quarter of 2021 but trailed the Russell 3000 Growth Index, which increased 10.89%, and the S&P 500 Index, which climbed 11.03%. For the full year 2021, the Fund gained 12.29% but underperformed the two indexes, which advanced 25.85% and 28.71%, respectively Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Baron Opportunity Fund, in its Q4 2021 investor letter, mentioned Innovid Corp. (NYSE:CTV) and discussed its stance on the firm. Founded in 2007, Innovid Corp. (NYSE:CTV) is a United States-based online advertising technology company with an $883.7 million market capitalization and is currently spearheaded by its CEO, Zvika Netter. Innovid Corp. (NYSE:CTV) delivered a 68.00% and it closed at $6.72 per share on March 18, 2022.

Here is what Baron Opportunity Fund has to say about Innovid Corp. (NYSE:CTV) in its Q4 2021 investor letter:

“During the period, we established a position in Innovid Corp. Innovid operates a software platform that enables the creation, delivery, and measurement of television ads across the entire connected-television (“CTV”) eco-system, including mobile, video, and streaming video services. Innovid (which stands for “innovation in video”) currently services over 40% of the top 200 U.S. TV advertisers. As an independent ad server, Innovid is uniquely positioned to benefit from the secular shift to CTV as more households opt to cut the cord and use various streaming platforms. Since it is not tied to a particular streaming service, Innovid will benefit from general industry growth, regardless of which specific platforms drive that growth. As Innovid grows in the emerging CTV market, it can continue to solidify its position as a neutral service provider, enabling advertisers to break free of market dominant players (such as Google) that have built large moats around other parts of the digital advertising ecosystem, but have yet to do so in CTV.”

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Our calculations show that Innovid Corp. (NYSE:CTV) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Innovid Corp. (NYSE:CTV) was in 13 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 0 funds in the previous quarter. Innovid Corp. (NYSE:CTV) delivered a -0.44% return in the past 3 months. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.