Innoviz Technologies Ltd. (NASDAQ:INVZ) Receives Average Recommendation of “Hold” from Brokerages

Shares of Innoviz Technologies Ltd. (NASDAQ:INVZ) have been given an average rating of “Hold” by the five ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $3.2667.

Several research analysts recently commented on the stock. Westpark Capital boosted their price objective on shares of Innoviz Technologies from $2.53 to $3.30 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Innoviz Technologies in a research note on Saturday, September 27th. Finally, The Goldman Sachs Group set a $2.50 price objective on shares of Innoviz Technologies and gave the stock a “buy” rating in a research note on Monday, September 29th.

Innoviz Technologies Stock Performance

NASDAQ:INVZ opened at $2.34 on Friday. Innoviz Technologies has a one year low of $0.45 and a one year high of $3.14. The firm has a market cap of $471.09 million, a P/E ratio of -5.57 and a beta of 1.30. The firm has a 50-day simple moving average of $1.77 and a 200-day simple moving average of $1.29.

Innoviz Technologies (NASDAQ:INVZ) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $9.75 million during 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. On average, research analysts predict that Innoviz Technologies will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INVZ. Millennium Management LLC increased its stake in Innoviz Technologies by 511.6% during the 4th quarter. Millennium Management LLC now owns 67,997 shares of the company’s stock valued at $114,000 after purchasing an additional 56,879 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in Innoviz Technologies by 49.5% during the 1st quarter. Koshinski Asset Management Inc. now owns 150,000 shares of the company’s stock valued at $98,000 after purchasing an additional 49,692 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Innoviz Technologies by 237.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 312,572 shares of the company’s stock valued at $204,000 after purchasing an additional 219,824 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake 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 purchasing an additional 500,000 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Innoviz Technologies in the first quarter worth $40,000. Institutional investors and hedge funds own 63.26% of the company’s stock.

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.