Westpark Capital Issues Positive Forecast for Innoviz Technologies (NASDAQ:INVZ) Stock Price

Innoviz Technologies (NASDAQ:INVZ) had its price objective boosted by Westpark Capital from $2.22 to $2.53 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Innoviz Technologies from $0.75 to $1.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Innoviz Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $4.00 price objective on shares of Innoviz Technologies in a research note on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Innoviz Technologies has an average rating of “Hold” and a consensus target price of $2.38.

Innoviz Technologies Stock Up 20.0%

NASDAQ INVZ opened at $1.32 on Wednesday. The company has a 50-day simple moving average of $0.84 and a two-hundred day simple moving average of $1.02. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14. The firm has a market cap of $262.63 million, a price-to-earnings ratio of -2.87 and a beta of 0.98.

Hedge Funds Weigh In On Innoviz Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Innoviz Technologies by 38.2% during the first quarter. Goldman Sachs Group Inc. now owns 523,945 shares of the company’s stock valued at $342,000 after acquiring an additional 144,822 shares during the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of Innoviz Technologies by 10.6% during the first 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 during the last quarter. NewEdge Advisors LLC raised its stake in Innoviz Technologies by 499.6% in the first quarter. NewEdge Advisors LLC now owns 70,021 shares of the company’s stock worth $46,000 after buying an additional 58,343 shares in the last quarter. Cresset Asset Management LLC raised its stake in Innoviz Technologies by 10.1% in the first quarter. Cresset Asset Management LLC now owns 218,007 shares of the company’s stock worth $142,000 after buying an additional 20,000 shares in the last quarter. Finally, Citizens Financial Group Inc. RI bought a new position in Innoviz Technologies in the first quarter worth about $130,000. 63.26% of the stock is owned by institutional investors.

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.