Innoviz Technologies (NASDAQ:INVZ) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a report published on Thursday morning,Benzinga reports. The brokerage currently has a $4.00 target price on the stock.

A number of other brokerages have also recently commented on INVZ. The Goldman Sachs Group reduced their price target on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Westpark Capital reaffirmed a “buy” rating and set a $2.22 price target on shares of Innoviz Technologies in a report on Tuesday. Finally, Cantor Fitzgerald downgraded shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3.19.

Innoviz Technologies Stock Performance

Innoviz Technologies stock opened at $0.73 on Thursday. Innoviz Technologies has a one year low of $0.45 and a one year high of $3.14. The stock has a fifty day moving average of $1.47 and a 200 day moving average of $0.98. The stock has a market cap of $100.00 million, a PE ratio of -1.15 and a beta of 0.72.

Innoviz Technologies (NASDAQ:INVZ) last announced its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. The business had revenue of $6.03 million during the quarter, compared to analysts’ expectations of $5.86 million. As a group, sell-side analysts predict that Innoviz Technologies will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Traynor Capital Management Inc. purchased a new stake in Innoviz Technologies in the 4th quarter worth about $25,000. FNY Investment Advisers LLC bought a new position in shares of Innoviz Technologies during the fourth quarter valued at approximately $25,000. Lido Advisors LLC purchased a new stake in shares of Innoviz Technologies in the fourth quarter worth approximately $29,000. OneDigital Investment Advisors LLC purchased a new stake in shares of Innoviz Technologies in the fourth quarter worth approximately $37,000. Finally, Sprott Inc. bought a new stake in shares of Innoviz Technologies during the 4th quarter worth approximately $54,000. 63.26% of the stock is owned by hedge funds and other institutional investors.

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.