Innoviz Technologies (NASDAQ:INVZ) Rating Reiterated by Cantor Fitzgerald

by · The Markets Daily

Innoviz Technologies (NASDAQ:INVZ – Get Free Report)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $2.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 142.98% from the company’s current price.

A number of other equities research analysts have also recently commented on INVZ. Rosenblatt Securities reissued a “neutral” rating and issued a $3.25 price objective on shares of Innoviz Technologies in a research note on Tuesday, September 10th. The Goldman Sachs Group lowered shares of Innoviz Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $2.25 to $1.00 in a research note on Thursday, July 11th. Finally, Westpark Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Innoviz Technologies in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.85.

View Our Latest Report on Innoviz Technologies

Innoviz Technologies Stock Performance

Innoviz Technologies stock opened at $0.82 on Monday. The stock has a market capitalization of $112.09 million, a price-to-earnings ratio of -1.07 and a beta of 0.99. Innoviz Technologies has a 52-week low of $0.50 and a 52-week high of $2.99. The stock’s 50 day moving average price is $0.71 and its two-hundred day moving average price is $0.97.

Innoviz Technologies (NASDAQ:INVZ – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $6.66 million during the quarter, compared to the consensus estimate of $4.77 million. Innoviz Technologies had a negative net margin of 338.67% and a negative return on equity of 75.99%. During the same period last year, the firm posted ($0.23) earnings per share. On average, equities research analysts forecast that Innoviz Technologies will post -0.64 EPS for the current year.

Hedge Funds Weigh In On Innoviz Technologies

Hedge funds have recently bought and sold shares of the company. Ground Swell Capital LLC bought a new position in shares of Innoviz Technologies during the second quarter valued at about $26,000. Kovack Advisors Inc. bought a new stake in Innoviz Technologies during the first quarter worth $28,000. Virtu Financial LLC boosted its holdings in shares of Innoviz Technologies by 85.2% in the 1st quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after buying an additional 39,633 shares during the last quarter. Choreo LLC bought a new position in Innoviz Technologies during the second quarter valued at about $185,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Innoviz Technologies during the fourth quarter worth about $255,000. 63.26% of the stock is owned by hedge funds and other institutional investors.

Innoviz Technologies Company Profile

(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.

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