Innoviz Technologies (NASDAQ:INVZ) Given New $2.53 Price Target at Westpark Capital

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) had its price target hoisted by stock analysts at Westpark Capital from $2.22 to $2.53 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Westpark Capital's price objective points to a potential upside of 130.00% from the stock's previous close.

Several other analysts have also commented on INVZ. Rosenblatt Securities reissued a "buy" rating and issued a $4.00 price objective on shares of Innoviz Technologies in a report on Thursday, May 15th. Wall Street Zen upgraded Innoviz Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group boosted their price target on shares of Innoviz Technologies from $0.75 to $1.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $2.38.

Innoviz Technologies Stock Up 18.3%

Shares of Innoviz Technologies stock opened at $1.10 on Wednesday. The firm has a market cap of $218.86 million, a PE ratio of -2.39 and a beta of 0.98. Innoviz Technologies has a twelve month low of $0.45 and a twelve month high of $3.14. The business has a 50-day moving average price of $0.82 and a 200 day moving average price of $1.01.

Hedge Funds Weigh In On Innoviz Technologies

Hedge funds have recently made changes to their positions in the company. Lido Advisors LLC acquired a new stake in shares of Innoviz Technologies in the fourth quarter worth approximately $29,000. OneDigital Investment Advisors LLC acquired a new stake in Innoviz Technologies during the 4th quarter worth $37,000. Arkadios Wealth Advisors acquired a new stake in Innoviz Technologies during the 1st quarter worth $40,000. NewEdge Advisors LLC grew its holdings in shares of Innoviz Technologies by 499.6% during the first quarter. NewEdge Advisors LLC now owns 70,021 shares of the company's stock worth $46,000 after buying an additional 58,343 shares in the last quarter. Finally, Sprott Inc. acquired a new stake in shares of Innoviz Technologies in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 63.26% of the company's stock.

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.

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