Cantor Fitzgerald reissued their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ – Free Report) in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a $3.00 price target on the stock.
Other analysts have also issued research reports about the company. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $7.00 price objective (down previously from $13.00) on shares of Innoviz Technologies in a research note on Tuesday, March 26th. The Goldman Sachs Group lowered Innoviz Technologies from a buy rating to a neutral rating and decreased their price objective for the company from $2.25 to $1.00 in a research note on Thursday, July 11th.
Check Out Our Latest Analysis on Innoviz Technologies
Innoviz Technologies Stock Performance
Innoviz Technologies (NASDAQ:INVZ – Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.05). The firm had revenue of $7.06 million during the quarter, compared to analyst estimates of $5.99 million. Innoviz Technologies had a negative net margin of 441.23% and a negative return on equity of 79.64%. As a group, sell-side analysts forecast that Innoviz Technologies will post -0.75 EPS for the current fiscal year.
Hedge Funds Weigh In On Innoviz Technologies
Several large investors have recently added to or reduced their stakes in the business. FIFTHDELTA Ltd lifted its position in Innoviz Technologies by 64.9% during the first quarter. FIFTHDELTA Ltd now owns 14,397,087 shares of the company’s stock worth $19,436,000 after buying an additional 5,668,684 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in Innoviz Technologies by 38.1% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,795,000 shares of the company’s stock worth $14,661,000 after buying an additional 1,600,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Innoviz Technologies by 22.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,427,590 shares of the company’s stock worth $3,498,000 after buying an additional 260,373 shares during the period. Scotia Capital Inc. purchased a new position in shares of Innoviz Technologies in the 4th quarter worth about $816,000. Finally, Koshinski Asset Management Inc. raised its holdings in shares of Innoviz Technologies by 232.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 200,308 shares of the company’s stock worth $270,000 after purchasing an additional 140,000 shares during the period. 63.26% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Articles
- Five stocks we like better than Innoviz Technologies
- About the Markup Calculator
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- High Dividend REITs: Are They an Ideal Way to Diversify?
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
Receive News & Ratings for Innoviz Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innoviz Technologies and related companies with MarketBeat.com's FREE daily email newsletter.