Innoviz Technologies (NASDAQ:INVZ) Earns “Buy” Rating from Westpark Capital

Innoviz Technologies (NASDAQ:INVZ)‘s stock had its “buy” rating reaffirmed by Westpark Capital in a note issued to investors on Tuesday,Benzinga reports. They presently have a $2.22 price objective on the stock. Westpark Capital’s price target would suggest a potential upside of 184.62% from the company’s current price.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group cut their price objective on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Rosenblatt Securities raised shares of Innoviz Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, Cantor Fitzgerald cut shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.19.

Innoviz Technologies Stock Down 4.0 %

INVZ stock opened at $0.78 on Tuesday. The firm has a 50 day moving average of $1.47 and a two-hundred day moving average of $0.98. Innoviz Technologies has a 12 month low of $0.45 and a 12 month high of $3.14. The company has a market capitalization of $106.22 million, a price-to-earnings ratio of -1.22 and a beta of 0.72.

Innoviz Technologies (NASDAQ:INVZ) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. The firm had revenue of $6.03 million during the quarter, compared to analysts’ expectations of $5.86 million. On average, research analysts expect that Innoviz Technologies will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INVZ. HITE Hedge Asset Management LLC bought a new stake in shares of Innoviz Technologies in the fourth quarter valued at approximately $1,972,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Innoviz Technologies in the 4th quarter valued at $1,932,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Innoviz Technologies by 13.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock valued at $11,434,000 after purchasing an additional 810,731 shares during the period. Polar Asset Management Partners Inc. grew its position in Innoviz Technologies by 29.6% in the 3rd 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 during the last quarter. Finally, Nomura Holdings Inc. increased its holdings in shares of Innoviz Technologies by 272.5% during the 4th quarter. Nomura Holdings Inc. now owns 791,520 shares of the company’s stock worth $1,330,000 after purchasing an additional 579,020 shares during the period. 63.26% of the stock is owned by institutional investors.

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.