Innoviz Technologies (NASDAQ:INVZ) Lowered to Strong Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Innoviz from "sell" to "strong sell" and Weiss Ratings reiterated a "sell (D-)", though overall coverage is mixed (three Buys, one Sell) with a consensus rating of "Moderate Buy" and an average price target of $3.10.
• Innoviz missed quarterly estimates, reporting Q4 EPS of -$0.10 (vs. -$0.07 est.) and revenue of $12.67M (vs. $15M est.), with a negative net margin of 123.06% and negative ROE of 73.64%; analysts expect roughly -0.6 EPS for the year.
• The stock opened at $0.68 (up 4.1%), has a market cap of about $145.3M and a 52-week range of $0.54–$2.54, and institutional investors own roughly 63.26% of the shares, including recent additions by firms like Invesco.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Innoviz Technologies in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Innoviz Technologies presently has an average rating of "Moderate Buy" and an average price target of $3.10.

Innoviz Technologies Stock Up 4.1%

NASDAQ INVZ opened at $0.68 on Friday. The company has a market cap of $145.34 million, a price-to-earnings ratio of -1.99 and a beta of 1.52. Innoviz Technologies has a 52 week low of $0.54 and a 52 week high of $2.54. The business has a 50 day moving average price of $0.80 and a 200-day moving average price of $1.24.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $12.67 million for the quarter, compared to the consensus estimate of $15.00 million. Innoviz Technologies had a negative net margin of 123.06% and a negative return on equity of 73.64%. On average, equities research analysts anticipate that Innoviz Technologies will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Innoviz Technologies

Several institutional investors have recently bought and sold shares of INVZ. Caprock Group LLC bought a new stake in Innoviz Technologies during the third quarter worth $26,000. Forefront Wealth Partners LLC bought a new stake in Innoviz Technologies during the fourth quarter worth $29,000. Invesco Ltd. grew its holdings in Innoviz Technologies by 68.5% during the fourth quarter. Invesco Ltd. now owns 46,346 shares of the company's stock worth $40,000 after buying an additional 18,837 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in Innoviz Technologies in the 3rd quarter valued at $44,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in Innoviz Technologies in the 3rd quarter valued at $45,000. Institutional investors own 63.26% of the company's stock.

About Innoviz Technologies

Innoviz Technologies Ltd. NASDAQ: INVZ is a developer of high-performance solid-state LiDAR sensors and perception software designed to support advanced driver assistance systems (ADAS) and autonomous driving applications. The company’s core business focuses on providing automotive-grade LiDAR hardware, along with software algorithms that enable accurate 3D mapping, object detection and environmental perception in real time. Innoviz’s technology is tailored for integration into passenger vehicles, commercial fleets and other mobility platforms seeking improved safety and autonomy.

Founded in 2016 and headquartered in Rosh Ha’ayin, Israel, Innoviz has emerged as a key supplier to leading global automakers and Tier 1 suppliers.

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