Westpark Capital Boosts Innoviz Technologies (NASDAQ:INVZ) Price Target to $3.30

Innoviz Technologies (NASDAQ:INVZ) had its target price raised by analysts at Westpark Capital from $2.53 to $3.30 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Westpark Capital’s price target would indicate a potential upside of 85.92% from the company’s previous close.

Other equities analysts have also issued reports about the company. Wall Street Zen raised Innoviz Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group raised their price objective on Innoviz Technologies from $0.75 to $1.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Innoviz Technologies in a research note on Thursday, May 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Innoviz Technologies presently has a consensus rating of “Hold” and a consensus target price of $2.58.

Innoviz Technologies Trading Up 18.3%

NASDAQ:INVZ opened at $1.78 on Thursday. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14. The stock has a 50-day moving average price of $1.50 and a 200 day moving average price of $1.06. The stock has a market capitalization of $357.34 million, a P/E ratio of -4.23 and a beta of 1.25.

Innoviz Technologies (NASDAQ:INVZ) last released its 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 for the quarter, compared to analysts’ expectations of $9.00 million. On average, research analysts predict that Innoviz Technologies will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innoviz Technologies

Several institutional investors have recently modified their holdings of INVZ. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Innoviz Technologies by 7.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,305,731 shares of the company’s stock valued at $4,763,000 after acquiring an additional 500,000 shares during the period. Polar Asset Management Partners Inc. boosted its holdings in Innoviz Technologies by 10.6% during 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 during the period. HITE Hedge Asset Management LLC purchased a new position in Innoviz Technologies during the 4th quarter valued at $1,972,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Innoviz Technologies during the 4th quarter valued at $1,932,000. Finally, JPMorgan Chase & Co. boosted its holdings in Innoviz Technologies by 3,440,684.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,101,051 shares of the company’s stock valued at $1,806,000 after acquiring an additional 1,101,019 shares during the period. 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.