Cantor Fitzgerald reaffirmed their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ – Free Report) in a research report sent to investors on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $3.00 price objective on the stock.
Separately, JPMorgan Chase & Co. reissued an overweight rating and set a $7.00 target price (down previously from $13.00) on shares of Innoviz Technologies in a research report on Tuesday, March 26th.
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Innoviz Technologies Stock Performance
Innoviz Technologies (NASDAQ:INVZ – Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.05). Innoviz Technologies had a negative return on equity of 79.64% and a negative net margin of 441.23%. The business had revenue of $7.06 million for the quarter, compared to analyst estimates of $5.99 million. On average, sell-side analysts forecast that Innoviz Technologies will post -0.75 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Crown Wealth Group LLC acquired a new position in Innoviz Technologies during the fourth quarter worth approximately $28,000. Tower Research Capital LLC TRC acquired a new position in shares of Innoviz Technologies in the fourth quarter valued at approximately $28,000. Daiwa Securities Group Inc. raised its stake in shares of Innoviz Technologies by 57.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 45,713 shares of the company’s stock worth $116,000 after purchasing an additional 16,629 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in shares of Innoviz Technologies during the first quarter worth approximately $28,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Innoviz Technologies during the fourth quarter worth approximately $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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