Innoviz Technologies’ (INVZ) Buy Rating Reaffirmed at Rosenblatt Securities

Innoviz Technologies (NASDAQ:INVZ)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $4.00 price target on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 412.82% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald cut Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. Westpark Capital reissued a “buy” rating and issued a $2.22 price objective on shares of Innoviz Technologies in a report on Tuesday. Finally, The Goldman Sachs Group decreased their price objective on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Innoviz Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $3.19.

Innoviz Technologies Price Performance

Innoviz Technologies stock opened at $0.78 on Thursday. The stock has a market capitalization of $106.22 million, a price-to-earnings ratio of -1.22 and a beta of 0.72. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $3.14. The business has a fifty day moving average price of $1.47 and a 200-day moving average price of $0.98.

Innoviz Technologies (NASDAQ:INVZ) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $6.03 million for the quarter, compared to the consensus estimate of $5.86 million. Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. On average, equities research analysts anticipate that Innoviz Technologies will post -0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innoviz Technologies

Large investors have recently bought and sold shares of the business. Traynor Capital Management Inc. acquired a new position in Innoviz Technologies in the 4th quarter worth about $25,000. FNY Investment Advisers LLC acquired a new position in Innoviz Technologies in the 4th quarter worth about $25,000. Lido Advisors LLC acquired a new position in Innoviz Technologies in the 4th quarter worth about $29,000. OneDigital Investment Advisors LLC acquired a new position in Innoviz Technologies in the 4th quarter worth about $37,000. Finally, Sprott Inc. acquired a new position in shares of Innoviz Technologies during the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds 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.