Innoviz Technologies (NASDAQ:INVZ) Posts Quarterly Earnings Results

Innoviz Technologies (NASDAQ:INVZ) issued its quarterly earnings data on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11), Zacks reports. Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. The company had revenue of $6.03 million for the quarter, compared to analyst estimates of $5.86 million. Innoviz Technologies updated its FY 2025 guidance to EPS.

Innoviz Technologies Price Performance

Innoviz Technologies stock traded up $0.02 during mid-day trading on Thursday, reaching $0.80. The company had a trading volume of 3,780,221 shares, compared to its average volume of 14,633,227. Innoviz Technologies has a 1 year low of $0.45 and a 1 year high of $3.14. The company has a market capitalization of $109.49 million, a P/E ratio of -1.26 and a beta of 0.72. The stock’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $0.98.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on INVZ shares. The Goldman Sachs Group decreased their target price on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Rosenblatt Securities restated a “buy” rating and issued a $4.00 price objective on shares of Innoviz Technologies in a research report on Thursday. Cantor Fitzgerald downgraded shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 14th. Finally, Westpark Capital restated a “buy” rating and issued a $2.22 price objective on shares of Innoviz Technologies in a research report on Tuesday. Two research 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 an average rating of “Moderate Buy” and a consensus target price of $3.19.

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.