Innoviz Technologies (NASDAQ:INVZ) Downgraded to “Neutral” by The Goldman Sachs Group

Innoviz Technologies (NASDAQ:INVZ – Download Free Report) was downgraded by equities analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat Ratings reports. They currently have a $1.00 price target on the stock, down from their previous $2.25 target. The Goldman Sachs Group price target indicates a potential upside of 4.71% from the current stock price.

INVZ was the subject of several other reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $7.00 price target (down from $13.00) on shares of Innoviz Technologies in a research report on Tuesday, March 26. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.00 price target on shares of Innoviz Technologies in a research report on Monday, July 1.

See our latest stock report on Innoviz Technologies

Innoviz Technologies records growth of 5.6%

NASDAQ INVZ shares opened at $0.96 on Thursday. The stock has a 50-day simple moving average of $1.04 and a 200-day simple moving average of $1.42. The company has a market cap of $130.05 million, a P/E ratio of -1.24 and a beta of 1.01. Innoviz Technologies has a 12-month low of $0.83 and a 12-month high of $4.39.

Innoviz Technologies (NASDAQ:INVZ – Get Free Report) last released its quarterly earnings data on Wednesday, May 8. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.05). The company had revenue of $7.06 million for the quarter, compared to analyst estimates of $5.99 million. Innoviz Technologies had a negative return on equity of 79.64% and a negative net margin of 441.23%. Sell-side analysts are forecasting that Innoviz Technologies will post -0.75 EPS for the current fiscal year.

Institutional investors rate Innoviz Technologies

A number of institutional investors have recently added to or reduced their holdings in INVZ. FIFTHDELTA Ltd increased its position in Innoviz Technologies by 64.9% in the first quarter. FIFTHDELTA Ltd now owns 14,397,087 shares of the company’s stock worth $19,436,000 after purchasing an additional 5,668,684 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Innoviz Technologies by 38.1% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,795,000 shares of the company’s stock worth $14,661,000 after purchasing an additional 1,600,000 shares in the last quarter. Scotia Capital Inc. bought a new position in shares of Innoviz Technologies during the fourth quarter worth $816,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of 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 purchasing an additional 260,373 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Innoviz Technologies during the first quarter valued at $258,000. 63.26% of the stock is now owned by institutional investors and hedge funds.

Innoviz Technologies Company Profile

(Download the free report)

Innoviz Technologies Ltd. manufactures and sells automotive-grade LiDAR sensors and perception software to enable safe, mass-market autonomous driving. The company offers InnovizOne, a solid-state LiDAR sensor designed for manufacturers of cars, robotics, shuttles, trucks, and delivery companies that need an automotive-grade, mass-produced solution to achieve autonomy.

Featured Stories

Get daily news and reviews about Innoviz Technologies – Enter your email address below to receive a concise summary of the latest news and analyst ratings for Innoviz Technologies and related companies in MarketBeat.com’s FREE daily newsletter.