Innoviz Technologies (NASDAQ:INVZ) Receives Buy Rating from Rosenblatt Securities

Innoviz Technologies (NASDAQ:INVZ - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Rosenblatt Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $4.00 price target on the stock. Rosenblatt Securities' price objective would indicate a potential upside of 476.37% from the company's previous close.

Several other research firms have also commented on INVZ. The Goldman Sachs Group dropped their price target on shares of Innoviz Technologies from $1.00 to $0.75 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Cantor Fitzgerald cut shares of Innoviz Technologies from an "overweight" rating to a "neutral" rating in a research note on Thursday, November 14th. Finally, Westpark Capital reiterated a "buy" rating and issued a $2.22 target price on shares of Innoviz Technologies in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $3.19.

Innoviz Technologies Stock Down 6.1 %

Shares of NASDAQ INVZ traded down $0.05 during mid-day trading on Thursday, reaching $0.69. 4,959,268 shares of the company were exchanged, compared to its average volume of 14,276,724. The stock has a market cap of $94.51 million, a price-to-earnings ratio of -1.08 and a beta of 0.72. The firm has a 50-day moving average of $1.46 and a 200 day moving average of $0.98. Innoviz Technologies has a 1 year low of $0.45 and a 1 year high of $3.14.

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Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, hitting analysts' consensus estimates of ($0.11). The company had revenue of $6.03 million during the quarter, compared to analysts' expectations of $5.86 million. Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. On average, equities analysts forecast that Innoviz Technologies will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Innoviz Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nomura Holdings Inc. raised its stake in shares of Innoviz Technologies by 272.5% in the 4th quarter. Nomura Holdings Inc. now owns 791,520 shares of the company's stock valued at $1,330,000 after acquiring an additional 579,020 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Innoviz Technologies in the fourth quarter worth $1,932,000. Millennium Management LLC boosted its stake in Innoviz Technologies by 511.6% in the fourth quarter. Millennium Management LLC now owns 67,997 shares of the company's stock valued at $114,000 after acquiring an additional 56,879 shares during the period. Moore Capital Management LP bought a new position in Innoviz Technologies during the 4th quarter worth $84,000. Finally, Schonfeld Strategic Advisors LLC lifted its position in Innoviz Technologies by 12.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company's stock valued at $266,000 after purchasing an additional 16,900 shares during the last quarter. Hedge funds and other institutional investors 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.