Cantor Fitzgerald Reiterates Overweight Rating for Innoviz Technologies (NASDAQ:INVZ)

Innoviz Technologies (NASDAQ:INVZ)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $2.00 target price on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 142.98% from the stock’s current price.

INVZ has been the subject of a number of other research reports. Westpark Capital reissued a “buy” rating and set a $6.00 target price on shares of Innoviz Technologies in a report on Tuesday, August 6th. The Goldman Sachs Group lowered shares of Innoviz Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $2.25 to $1.00 in a research report on Thursday, July 11th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $3.25 price target on shares of Innoviz Technologies in a research report on Tuesday, September 10th. 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $3.85.

Innoviz Technologies Stock Performance

NASDAQ INVZ opened at $0.82 on Monday. The stock has a market cap of $112.09 million, a PE ratio of -1.07 and a beta of 0.99. The firm has a 50-day moving average of $0.71 and a 200-day moving average of $0.97. Innoviz Technologies has a 52-week low of $0.50 and a 52-week high of $2.99.

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

Institutional Trading of Innoviz Technologies

Several institutional investors and hedge funds have recently modified their holdings of INVZ. PNC Financial Services Group Inc. bought a new position in shares of Innoviz Technologies in the fourth quarter worth about $255,000. Tidal Investments LLC acquired a new stake in Innoviz Technologies in the first quarter valued at approximately $258,000. Kovack Advisors Inc. bought a new stake in shares of Innoviz Technologies during the first quarter worth $28,000. Cowen AND Company LLC increased its holdings in shares of Innoviz Technologies by 315.8% during the second quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock worth $7,538,000 after buying an additional 6,172,864 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in shares of Innoviz Technologies by 85.2% during the first quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after buying an additional 39,633 shares in the last quarter. 63.26% of the stock is currently owned by institutional investors.

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.