Innoviz Technologies (NASDAQ:INVZ) Stock Price Expected to Rise, Westpark Capital Analyst Says

Innoviz Technologies (NASDAQ:INVZ) had its target price hoisted by equities research analysts at Westpark Capital from $2.22 to $2.53 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Westpark Capital’s target price points to a potential upside of 130.00% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $4.00 price objective on shares of Innoviz Technologies in a report on Thursday, May 15th. Wall Street Zen raised shares of Innoviz Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group lifted their price target on shares of Innoviz Technologies from $0.75 to $1.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.38.

Innoviz Technologies Stock Up 18.3%

Shares of NASDAQ:INVZ opened at $1.10 on Wednesday. Innoviz Technologies has a 52-week low of $0.45 and a 52-week high of $3.14. The stock has a market cap of $218.86 million, a P/E ratio of -2.39 and a beta of 0.98. The business has a fifty day moving average of $0.82 and a two-hundred day moving average of $1.01.

Institutional Trading of Innoviz Technologies

A number of institutional investors have recently modified their holdings of INVZ. Schonfeld Strategic Advisors LLC increased its position in Innoviz Technologies by 12.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company’s stock worth $266,000 after buying an additional 16,900 shares in the last quarter. Lido Advisors LLC acquired a new stake in shares of Innoviz Technologies in the fourth quarter worth approximately $29,000. Cresset Asset Management LLC increased its holdings in shares of Innoviz Technologies by 10.1% during the 1st quarter. Cresset Asset Management LLC now owns 218,007 shares of the company’s stock worth $142,000 after buying an additional 20,000 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Innoviz Technologies during the 4th quarter worth about $37,000. Finally, Sprott Inc. acquired a new position in Innoviz Technologies during the fourth quarter valued at approximately $54,000. 63.26% of the stock is currently 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.