Research Analysts’ Weekly Ratings Updates for Innoviz Technologies (INVZ)

Several analysts have recently updated their ratings and price targets for Innoviz Technologies (NASDAQ: INVZ):

• 9/23/2024 – Innoviz Technologies had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $2.00 price target on the stock.
• 9/10/2024 – Innoviz Technologies had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $3.25 price target on the stock.
• 9/9/2024 – Innoviz Technologies had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $2.00 price target on the stock.
• 9/3/2024 – Innoviz Technologies had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $2.00 price target on the stock.
• 8/19/2024 – Innoviz Technologies had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $2.00 price target on the stock.
• 8/8/2024 – Innoviz Technologies had its price target lowered by analysts at Cantor Fitzgerald from $3.00 to $2.00. They now have an “overweight” rating on the stock.
• 8/6/2024 – Innoviz Technologies had its “buy” rating reaffirmed by analysts at Westpark Capital. They now have a $6.00 price target on the stock.

Innoviz Technologies Price Performance

Shares of Innoviz Technologies stock remained flat at $0.72 on Tuesday. The stock had a trading volume of 484,677 shares, compared to its average volume of 2,212,049. Innoviz Technologies Ltd. has a 12 month low of $0.50 and a 12 month high of $2.99. The stock has a market cap of $98.38 million, a price-to-earnings ratio of -0.94 and a beta of 0.99. The business has a fifty day simple moving average of $0.73 and a two-hundred day simple moving average of $0.99.

Innoviz Technologies (NASDAQ:INVZ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $6.66 million for the quarter, compared to analysts’ expectations of $4.77 million. Innoviz Technologies had a negative net margin of 338.67% and a negative return on equity of 75.99%. During the same period in the prior year, the company posted ($0.23) earnings per share. As a group, research analysts anticipate that Innoviz Technologies Ltd. will post -0.64 EPS for the current year.

Hedge Funds Weigh In On Innoviz Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in INVZ. SkyView Investment Advisors LLC acquired a new stake in shares of Innoviz Technologies in the second quarter worth $371,000. Interval Partners LP boosted its position in Innoviz Technologies by 19.6% during the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock worth $2,519,000 after acquiring an additional 444,823 shares during the period. Ground Swell Capital LLC purchased a new position in Innoviz Technologies during the 2nd quarter valued at about $26,000. Cowen AND Company LLC increased its holdings in shares of Innoviz Technologies by 315.8% in the 2nd quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock valued at $7,538,000 after purchasing an additional 6,172,864 shares during the period. Finally, Choreo LLC purchased a new position in Innoviz Technologies during the second quarter valued at approximately $185,000. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

Innoviz Technologies Ltd. manufactures and sells automotive grade LiDAR sensors and perception software to enable safe autonomous driving at a mass scale. The company offers InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.