Innoviz Technologies (NASDAQ:INVZ) Rating Reiterated by Cantor Fitzgerald

Innoviz Technologies (NASDAQ:INVZ)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They currently have a $2.00 target price on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 176.85% from the company’s current price.

A number of other equities analysts have also commented on the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $3.25 price objective on shares of Innoviz Technologies in a research note on Tuesday, September 10th. The Goldman Sachs Group lowered shares of Innoviz Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $2.25 to $1.00 in a research note on Thursday, July 11th. Finally, Westpark Capital reissued a “buy” rating and set a $6.00 target price on shares of Innoviz Technologies in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3.85.

Innoviz Technologies Price Performance

Shares of INVZ stock opened at $0.72 on Monday. Innoviz Technologies has a twelve month low of $0.50 and a twelve month high of $2.99. The stock’s fifty day simple moving average is $0.73 and its 200 day simple moving average is $0.99. The firm has a market capitalization of $98.38 million, a P/E ratio of -0.94 and a beta of 0.99.

Innoviz Technologies (NASDAQ:INVZ) last posted its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Innoviz Technologies had a negative return on equity of 75.99% and a negative net margin of 338.67%. The business had revenue of $6.66 million for the quarter, compared to the consensus estimate of $4.77 million. During the same period in the previous year, the firm earned ($0.23) earnings per share. As a group, equities research analysts expect that Innoviz Technologies will post -0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Innoviz Technologies

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new position in Innoviz Technologies during the 4th quarter worth approximately $255,000. Jump Financial LLC bought a new stake in Innoviz Technologies during the 4th quarter valued at $106,000. Tidal Investments LLC acquired a new position in Innoviz Technologies during the first quarter worth $258,000. Kovack Advisors Inc. bought a new position in shares of Innoviz Technologies in the first quarter valued at $28,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Innoviz Technologies during the fourth quarter valued at about $54,000. 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.