Innoviz Technologies (NASDAQ:INVZ) Issues Quarterly Earnings Results, Hits Expectations

Innoviz Technologies (NASDAQ:INVZ) released its earnings results on Wednesday. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11), Zacks reports. Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. Innoviz Technologies updated its FY 2025 guidance to EPS.

Innoviz Technologies Price Performance

Shares of NASDAQ INVZ traded down $0.01 during trading hours on Wednesday, hitting $0.80. 16,912,796 shares of the company’s stock were exchanged, compared to its average volume of 14,682,511. The company’s 50-day moving average price is $1.48 and its 200-day moving average price is $0.98. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $3.14. The stock has a market capitalization of $108.68 million, a price-to-earnings ratio of -1.25 and a beta of 0.72.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Cantor Fitzgerald cut shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a 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 research note on Tuesday. Finally, Rosenblatt Securities upgraded shares of Innoviz Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Innoviz Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.19.

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.