Innoviz Technologies (NASDAQ:INVZ) Price Target Raised to $3.30 at Westpark Capital

Key Points

• Westpark Capital has increased its price target for Innoviz Technologies (NASDAQ:INVZ) from $2.53 to $3.30, indicating a potential upside of 108.86% from the current stock price.
• Innoviz Technologies reported a negative EPS of ($0.09), missing estimates, but achieved revenue of $9.75 million for the quarter, surpassing expectations.
• Institutional investors hold approximately 63.26% of Innoviz Technologies, with several new stakes established in recent quarters.

Innoviz Technologies (NASDAQ:INVZ - Free Report) had its price target upped by Westpark Capital from $2.53 to $3.30 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. 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 research note on Friday, May 16th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $4.00 target price on shares of Innoviz Technologies in a report on Thursday, May 15th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $2.58.

Innoviz Technologies Stock Down 6.4%

INVZ stock traded down $0.1150 during mid-day trading on Thursday, hitting $1.6750. The company had a trading volume of 5,108,973 shares, compared to its average volume of 8,025,689. The company has a market capitalization of $337.21 million, a price-to-earnings ratio of -3.99 and a beta of 1.25. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14. The company has a 50-day moving average price of $1.52 and a 200 day moving average price of $1.06.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $9.75 million during the quarter, compared to analysts' expectations of $9.00 million. Innoviz Technologies had a negative return on equity of 80.09% and a negative net margin of 197.89%. Innoviz Technologies has set its FY 2025 guidance at EPS. As a group, analysts expect that Innoviz Technologies will post -0.6 EPS for the current year.

Institutional Investors Weigh In On Innoviz Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of INVZ. Migdal Insurance & Financial Holdings Ltd. increased its stake in Innoviz Technologies by 7.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,305,731 shares of the company's stock valued at $4,763,000 after purchasing an additional 500,000 shares in the last quarter. Polar Asset Management Partners Inc. increased its stake in shares of Innoviz Technologies by 10.6% in the first quarter. Polar Asset Management Partners Inc. now owns 2,936,369 shares of the company's stock worth $1,914,000 after acquiring an additional 280,769 shares during the period. HITE Hedge Asset Management LLC acquired a new stake in shares of Innoviz Technologies in the fourth quarter worth $1,972,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Innoviz Technologies in the fourth quarter worth $1,932,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Innoviz Technologies by 3,440,684.4% in the second quarter. JPMorgan Chase & Co. now owns 1,101,051 shares of the company's stock worth $1,806,000 after acquiring an additional 1,101,019 shares during the period. Hedge funds and other institutional investors 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.