Innoviz Technologies (NASDAQ:INVZ) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ - Free Report) in a report released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $2.00 target price on the stock.

INVZ has been the subject of several other reports. Westpark Capital reiterated a buy rating and set a $6.00 price objective on shares of Innoviz Technologies in a report on Tuesday, August 6th. The Goldman Sachs Group downgraded Innoviz Technologies from a buy rating to a neutral rating and cut their price target for the stock from $2.25 to $1.00 in a research note on Thursday, July 11th. Finally, Rosenblatt Securities reissued a neutral rating and issued a $3.25 price target on shares of Innoviz Technologies in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $3.85.

Innoviz Technologies Stock Down 1.1 %

Shares of INVZ traded down $0.01 during mid-day trading on Monday, reaching $0.72. The company's stock had a trading volume of 1,068,036 shares, compared to its average volume of 2,221,487. The company has a market cap of $97.71 million, a price-to-earnings ratio of -0.90 and a beta of 0.99. The business has a fifty day moving average of $0.73 and a 200 day moving average of $1.00. Innoviz Technologies has a 1 year low of $0.50 and a 1 year high of $2.99.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $6.66 million during the quarter, compared to analysts' expectations of $4.77 million. Innoviz Technologies had a negative return on equity of 75.99% and a negative net margin of 338.67%. During the same period in the prior year, the company posted ($0.23) earnings per share. On average, analysts predict that Innoviz Technologies will post -0.64 earnings per share for the current year.

Institutional Trading of Innoviz Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in INVZ. Victory Capital Management Inc. bought a new position in shares of Innoviz Technologies in the 4th quarter valued at approximately $54,000. Jump Financial LLC acquired a new stake in shares of Innoviz Technologies in the fourth quarter worth $106,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Innoviz Technologies by 474.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 57,454 shares of the company's stock worth $145,000 after buying an additional 47,445 shares during the period. PNC Financial Services Group Inc. acquired a new position in Innoviz Technologies in the 4th quarter valued at $255,000. Finally, Scotia Capital Inc. acquired a new position in Innoviz Technologies in the 4th quarter valued at $816,000. Institutional investors and hedge funds 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.