The Goldman Sachs Group lowered shares of Innoviz Technologies (NASDAQ:INVZ – Free Report) from a buy rating to a neutral rating in a report released on Thursday morning, MarketBeat.com reports. They currently have $1.00 target price on the stock, down from their previous target price of $2.25.
A number of other research firms also recently weighed in on INVZ. JPMorgan Chase & Co. restated an overweight rating and set a $7.00 target price (down previously from $13.00) on shares of Innoviz Technologies in a research report on Tuesday, March 26th. Cantor Fitzgerald restated an overweight rating and set a $3.00 target price on shares of Innoviz Technologies in a research report on Monday, July 1st.
View Our Latest Report on INVZ
Innoviz Technologies Stock Performance
Innoviz Technologies (NASDAQ:INVZ – Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.05). Innoviz Technologies had a negative net margin of 441.23% and a negative return on equity of 79.64%. The business had revenue of $7.06 million during the quarter, compared to the consensus estimate of $5.99 million. As a group, research analysts predict that Innoviz Technologies will post -0.75 EPS for the current fiscal year.
Institutional Investors Weigh In On Innoviz Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Crown Wealth Group LLC bought a new stake in Innoviz Technologies in the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Innoviz Technologies by 38.1% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,795,000 shares of the company’s stock valued at $14,661,000 after purchasing an additional 1,600,000 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Innoviz Technologies by 57.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 45,713 shares of the company’s stock valued at $116,000 after purchasing an additional 16,629 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Innoviz Technologies in the fourth quarter valued at about $54,000. Finally, Jump Financial LLC bought a new stake in Innoviz Technologies in the fourth quarter valued at about $106,000. Institutional investors own 63.26% of the company’s stock.
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.
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