The Goldman Sachs Group Issues Positive Forecast for Innoviz Technologies (NASDAQ:INVZ) Stock Price

Innoviz Technologies (NASDAQ:INVZ) had its price objective lifted by The Goldman Sachs Group from $0.75 to $1.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also issued reports on INVZ. Rosenblatt Securities reissued a “buy” rating and issued a $4.00 price target on shares of Innoviz Technologies in a research report on Thursday. Westpark Capital reissued a “buy” rating and issued a $2.22 price target on shares of Innoviz Technologies in a research report on Tuesday.

Innoviz Technologies Stock Performance

Shares of INVZ stock opened at $0.99 on Friday. The firm has a market cap of $196.10 million, a price-to-earnings ratio of -1.54 and a beta of 0.84. Innoviz Technologies has a 52 week low of $0.45 and a 52 week high of $3.14. The firm’s 50-day simple moving average is $0.69 and its two-hundred day simple moving average is $0.96.

Innoviz Technologies (NASDAQ:INVZ) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $6.03 million for the quarter, compared to analyst estimates of $5.86 million. Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. Analysts forecast that Innoviz Technologies will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Innoviz Technologies

Several hedge funds have recently bought and sold shares of INVZ. Koshinski Asset Management Inc. purchased a new position in Innoviz Technologies during the fourth quarter valued at approximately $169,000. Traynor Capital Management Inc. purchased a new position in Innoviz Technologies during the fourth quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Innoviz Technologies by 13.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock valued at $11,434,000 after acquiring an additional 810,731 shares in the last quarter. Sprott Inc. purchased a new position in Innoviz Technologies during the fourth quarter valued at approximately $54,000. Finally, SBI Securities Co. Ltd. purchased a new position in Innoviz Technologies during the fourth quarter valued at approximately $156,000. Hedge funds and other 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.