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

Innoviz Technologies (NASDAQ:INVZGet Free Report)‘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.

Read Our Latest Stock Analysis on Innoviz Technologies

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:INVZGet Free Report) 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

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Innoviz Technologies (NASDAQ:INVZ)

Receive News & Ratings for Innoviz Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviz Technologies and related companies with MarketBeat.com's FREE daily email newsletter.