Innoviz Technologies Ltd. (NASDAQ:INVZ) Given Consensus Rating of “Hold” by Brokerages

Innoviz Technologies Ltd. (NASDAQ:INVZ) has been assigned an average rating of “Hold” from the five research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $3.2667.

Several brokerages have issued reports on INVZ. Westpark Capital raised their price objective on shares of Innoviz Technologies from $2.53 to $3.30 and gave the stock a “buy” rating in a research report on Thursday, August 14th. 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 report on Monday, September 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Innoviz Technologies in a research report on Wednesday, October 8th.

Innoviz Technologies Price Performance

Shares of NASDAQ:INVZ opened at $2.03 on Tuesday. The company’s fifty day moving average price is $1.91 and its 200 day moving average price is $1.44. Innoviz Technologies has a 12 month low of $0.45 and a 12 month high of $3.14. The firm has a market capitalization of $408.68 million, a P/E ratio of -4.83 and a beta of 1.30.

Innoviz Technologies (NASDAQ:INVZ) last announced 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). Innoviz Technologies had a negative return on equity of 80.09% and a negative net margin of 197.89%.The company had revenue of $9.75 million for the quarter, compared to analyst estimates of $9.00 million. Innoviz Technologies has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Innoviz Technologies will post -0.6 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INVZ. WMG Financial Advisors LLC lifted its stake in shares of Innoviz Technologies by 72.0% in the third quarter. WMG Financial Advisors LLC now owns 36,117 shares of the company’s stock valued at $74,000 after purchasing an additional 15,117 shares during the period. Bank Hapoalim BM acquired a new position in Innoviz Technologies during the second quarter worth about $26,000. Cresset Asset Management LLC raised its position in Innoviz Technologies by 10.1% during the first quarter. Cresset Asset Management LLC now owns 218,007 shares of the company’s stock worth $142,000 after acquiring an additional 20,000 shares during the last quarter. O ROURKE & COMPANY Inc acquired a new position in Innoviz Technologies during the second quarter worth about $33,000. Finally, Corsair Capital Management L.P. acquired a new position in Innoviz Technologies during the second quarter worth about $41,000. 63.26% of the stock is owned by hedge funds and other 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.