Innoviz Technologies (NASDAQ:INVZ) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a report released on Monday morning, Benzinga reports. The firm currently has a $2.00 target price on the stock.

INVZ has been the topic of a number of other reports. Rosenblatt Securities reiterated a neutral rating and issued a $3.25 price objective on shares of Innoviz Technologies in a research report on Tuesday, September 10th. Westpark Capital restated a buy rating and set a $6.00 target price on shares of Innoviz Technologies in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group lowered shares of Innoviz Technologies from a buy rating to a neutral rating and reduced their target price for the company from $2.25 to $1.00 in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $3.85.

Innoviz Technologies Stock Performance

INVZ opened at $0.82 on Monday. The firm’s 50-day simple moving average is $0.71 and its 200-day simple moving average is $0.96. Innoviz Technologies has a twelve month low of $0.50 and a twelve month high of $2.99. The firm has a market cap of $111.75 million, a price-to-earnings ratio of -1.07 and a beta of 1.02.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Innoviz Technologies had a negative net margin of 338.67% and a negative return on equity of 75.99%. The business had revenue of $6.66 million during the quarter, compared to the consensus estimate of $4.77 million. During the same period in the prior year, the firm earned ($0.23) earnings per share. As a group, sell-side analysts anticipate that Innoviz Technologies will post -0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Innoviz Technologies

Several large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in shares of Innoviz Technologies in the 4th quarter valued at $255,000. Tidal Investments LLC bought a new stake in shares of Innoviz Technologies during the first quarter worth $258,000. Kovack Advisors Inc. acquired a new stake in shares of Innoviz Technologies during the first quarter worth $28,000. Cowen AND Company LLC lifted its position in Innoviz Technologies by 315.8% in the 2nd quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock valued at $7,538,000 after acquiring an additional 6,172,864 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in Innoviz Technologies by 85.2% during the 1st quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after purchasing an additional 39,633 shares in the last quarter. 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.