Innoviz Technologies Ltd. (NASDAQ:INVZ) Receives $3.27 Average PT from Brokerages

Innoviz Technologies Ltd. (NASDAQ:INVZ) has received a consensus rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $3.2667.

Several research firms have recently issued reports on INVZ. Weiss Ratings reiterated a “sell (d-)” rating on shares of Innoviz Technologies in a report on Saturday, September 27th. Westpark Capital raised their price objective on Innoviz Technologies from $2.53 to $3.30 and gave the company a “buy” rating in a research report on Thursday, August 14th. Finally, The Goldman Sachs Group set a $2.50 target price on Innoviz Technologies and gave the stock a “buy” rating in a report on Monday, September 29th.

Innoviz Technologies Trading Up 9.0%

Shares of Innoviz Technologies stock opened at $2.31 on Friday. Innoviz Technologies has a 12 month low of $0.45 and a 12 month high of $3.14. The firm has a market capitalization of $465.05 million, a P/E ratio of -5.50 and a beta of 1.30. The business has a fifty day simple moving average of $1.74 and a two-hundred day simple moving average of $1.27.

Innoviz Technologies (NASDAQ:INVZ) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Innoviz Technologies had a negative return on equity of 80.09% and a negative net margin of 197.89%.The business had revenue of $9.75 million during the quarter, compared to the consensus estimate of $9.00 million. Innoviz Technologies has set its FY 2025 guidance at EPS. Analysts predict that Innoviz Technologies will post -0.6 earnings per share for the current year.

Institutional Trading of Innoviz Technologies

Several institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Innoviz Technologies by 7.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,305,731 shares of the company’s stock worth $4,763,000 after buying an additional 500,000 shares during the last quarter. Banco Santander S.A. purchased a new position in Innoviz Technologies in the 1st quarter worth approximately $239,000. SBI Securities Co. Ltd. lifted its position in Innoviz Technologies by 237.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 312,572 shares of the company’s stock valued at $204,000 after acquiring an additional 219,824 shares in the last quarter. Polar Asset Management Partners Inc. lifted its position in Innoviz Technologies by 10.6% in the 1st quarter. Polar Asset Management Partners Inc. now owns 2,936,369 shares of the company’s stock valued at $1,914,000 after acquiring an additional 280,769 shares in the last quarter. Finally, New Age Alpha Advisors LLC boosted its stake in Innoviz Technologies by 400.0% during the 1st quarter. New Age Alpha Advisors LLC now owns 500,000 shares of the company’s stock valued at $326,000 after purchasing an additional 400,000 shares during the last quarter. 63.26% of the stock is owned by hedge funds and other institutional investors.

Innoviz Technologies Company Profile

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.