Innoviz Technologies (NASDAQ:INVZ) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Innoviz Technologies (NASDAQ:INVZ) from a neutral rating to a buy rating in a research note issued to investors on Sunday, MarketBeat Ratings reports. They currently have $2.50 price objective on the stock, up from their previous price objective of $1.50.

Separately, Westpark Capital boosted their price target on Innoviz Technologies from $2.53 to $3.30 and gave the company a “buy” rating in a research note on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.27.

Innoviz Technologies Stock Performance

Shares of NASDAQ:INVZ opened at $2.04 on Friday. Innoviz Technologies has a fifty-two week low of $0.45 and a fifty-two week high of $3.14. The business has a 50-day simple moving average of $1.73 and a two-hundred day simple moving average of $1.23. The firm has a market cap of $410.69 million, a price-to-earnings ratio of -4.86 and a beta of 1.25.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $9.75 million for the quarter, compared to the consensus estimate of $9.00 million. Innoviz Technologies had a negative net margin of 197.89% and a negative return on equity of 80.09%. Innoviz Technologies has set its FY 2025 guidance at EPS. As a group, research analysts predict that Innoviz Technologies will post -0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bank Hapoalim BM purchased a new position in Innoviz Technologies in the 2nd quarter worth approximately $26,000. Cresset Asset Management LLC lifted its holdings in Innoviz Technologies by 10.1% in the 1st quarter. Cresset Asset Management LLC now owns 218,007 shares of the company’s stock worth $142,000 after purchasing an additional 20,000 shares in the last quarter. O ROURKE & COMPANY Inc purchased a new position in Innoviz Technologies in the 2nd quarter worth approximately $33,000. WMG Financial Advisors LLC purchased a new position in Innoviz Technologies in the 2nd quarter worth approximately $34,000. Finally, Corsair Capital Management L.P. purchased a new position in Innoviz Technologies in the 2nd quarter worth approximately $41,000. 63.26% of the stock is owned by hedge funds and other institutional investors.

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.