Innoviz Technologies (INVZ) to Release Quarterly Earnings on Wednesday

Innoviz Technologies (NASDAQ:INVZ) will be announcing its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.13) per share for the quarter. Innoviz Technologies has set its Q1 2024 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Innoviz Technologies (NASDAQ:INVZ) last posted its earnings results on Wednesday, February 28th. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). Innoviz Technologies had a negative return on equity of 78.39% and a negative net margin of 591.37%. The business had revenue of $14.92 million during the quarter, compared to analysts’ expectations of $12.25 million. On average, analysts expect Innoviz Technologies to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Innoviz Technologies Stock Down 1.7 %

Innoviz Technologies stock opened at $1.15 on Wednesday. The business has a 50-day simple moving average of $1.35 and a 200 day simple moving average of $1.72. Innoviz Technologies has a 52 week low of $0.94 and a 52 week high of $4.39. The stock has a market cap of $156.61 million, a price-to-earnings ratio of -1.35 and a beta of 1.04.

Analysts Set New Price Targets

INVZ has been the subject of several analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and set a $7.00 target price (down from $13.00) on shares of Innoviz Technologies in a report on Tuesday, March 26th. Rosenblatt Securities lowered their price target on Innoviz Technologies from $5.00 to $3.25 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group lowered their price target on Innoviz Technologies from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Thursday, January 25th.

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.