Innoviz Technologies (NASDAQ:INVZ) Price Target Raised to $1.00

Innoviz Technologies (NASDAQ:INVZ) had its price objective hoisted by The Goldman Sachs Group from $0.75 to $1.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently issued reports on INVZ. Westpark Capital restated a “buy” rating and issued a $2.22 price target on shares of Innoviz Technologies in a research note on Tuesday, May 13th. Rosenblatt Securities restated a “buy” rating and issued a $4.00 price target on shares of Innoviz Technologies in a research note on Thursday.

Innoviz Technologies Trading Up 0.1%

INVZ stock opened at $0.99 on Friday. The business’s 50 day simple moving average is $0.69 and its 200 day simple moving average is $0.97. The firm has a market capitalization of $196.10 million, a PE ratio of -1.54 and a beta of 0.84. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $3.14.

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

Institutional Trading of Innoviz Technologies

A number of institutional investors have recently modified their holdings of INVZ. HITE Hedge Asset Management LLC bought a new stake in shares of Innoviz Technologies during the 4th quarter valued at $1,972,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Innoviz Technologies during the 4th quarter valued at $1,932,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Innoviz Technologies by 13.5% during 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 acquiring an additional 810,731 shares during the period. Nomura Holdings Inc. lifted its position 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 valued at $1,330,000 after acquiring an additional 579,020 shares during the period. Finally, New Age Alpha Advisors LLC lifted its position in shares of Innoviz Technologies by 400.0% during the 1st quarter. New Age Alpha Advisors LLC now owns 500,000 shares of the company’s stock worth $326,000 after buying an additional 400,000 shares during the last quarter. 63.26% of the stock is currently 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.