Innoviz Technologies (NASDAQ:INVZ) Earns Buy Rating from Rosenblatt Securities

Innoviz Technologies (NASDAQ:INVZ)‘s stock had its “buy” rating reiterated by research analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $4.00 target price on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 441.20% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Cantor Fitzgerald downgraded shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Westpark Capital reiterated a “buy” rating and issued a $2.22 price target on shares of Innoviz Technologies in a research note on Tuesday. Finally, The Goldman Sachs Group decreased their price target on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3.19.

Innoviz Technologies Stock Performance

NASDAQ INVZ opened at $0.74 on Thursday. The firm has a 50 day simple moving average of $1.46 and a 200-day simple moving average of $0.98. Innoviz Technologies has a one year low of $0.45 and a one year high of $3.14. The firm has a market cap of $100.65 million, a price-to-earnings ratio of -1.15 and a beta of 0.72.

Innoviz Technologies (NASDAQ:INVZ) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. The business had revenue of $6.03 million during the quarter, compared to analyst estimates of $5.86 million. Equities analysts predict that Innoviz Technologies will post -0.6 EPS for the current fiscal year.

Institutional Trading of Innoviz Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Innoviz Technologies by 13.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock worth $11,434,000 after purchasing an additional 810,731 shares in the last quarter. Polar Asset Management Partners Inc. raised its holdings in Innoviz Technologies by 29.6% during the third quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock worth $2,665,000 after purchasing an additional 735,300 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in Innoviz Technologies during the fourth quarter worth approximately $169,000. Sprott Inc. acquired a new stake in Innoviz Technologies during the fourth quarter worth approximately $54,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in Innoviz Technologies during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 63.26% of the company’s stock.

About Innoviz Technologies

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.