For Innoviz Technologies Ltd. [INVZ], Analyst sees a rise to $9. What next?


Innoviz Technologies Ltd. [NASDAQ: INVZ] jumped around 0.37 points on Monday, while shares priced at $4.41 at the close of the session, up 9.16%. The company report on May 2, 2022 that Innoviz Selected by One of the Largest Global Vehicle Groups to be its Direct LiDAR Supplier for Series Production Vehicles; Increases Forward-Looking Order Book by $4 Billion.

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Innoviz to Provide InnovizTwo LiDAR Sensor and Perception Software.

Innoviz Technologies Ltd. (NASDAQ: INVZ) (the “Company” or “Innoviz”), a leading provider of high-performance LiDAR sensors and perception software, announced today that one of the largest vehicle manufacturers in the world has selected Innoviz to become its direct LiDAR supplier across multiple brands. The selection, which is Innoviz’s third major design win, follows more than two years of extensive diligence and qualification, and will increase Innoviz’s forward-looking order book by $4 billion to $6.6 billion. The company will elaborate further on the new achievement on its coming quarterly earnings call on May 11 at 9:00a.m. ET.

Innoviz Technologies Ltd. stock is now -30.44% down from its year-to-date (YTD) trading value. INVZ Stock saw the intraday high of $4.68 and lowest of $4.12 per share. The company’s 52-week high price is 11.55, which means current price is +52.60% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 962.94K shares, INVZ reached a trading volume of 30390064 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Innoviz Technologies Ltd. [INVZ]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for INVZ shares is $7.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on INVZ stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Innoviz Technologies Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 17, 2021. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on May 25, 2021, representing the official price target for Innoviz Technologies Ltd. stock. Previously, the target price had yet another raise to $14, while Cantor Fitzgerald analysts kept a Overweight rating on INVZ stock.

The Average True Range (ATR) for Innoviz Technologies Ltd. is set at 0.28, with the Price to Sales ratio for INVZ stock in the period of the last 12 months amounting to 97.77. The Price to Book ratio for the last quarter was 2.20, with the Price to Cash per share for the same quarter was set at 0.29.

How has INVZ stock performed recently?

Innoviz Technologies Ltd. [INVZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 42.26. With this latest performance, INVZ shares gained by 21.82% in over the last four-week period, additionally sinking by -16.00% over the last 6 months – not to mention a drop of -58.36% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for INVZ stock in for the last two-week period is set at 68.67, with the RSI for the last a single of trading hit 77.03, and the three-weeks RSI is set at 62.60 for Innoviz Technologies Ltd. [INVZ]. The present Moving Average for the last 50 days of trading for this stock 3.58, while it was recorded at 3.72 for the last single week of trading, and 5.41 for the last 200 days.

Innoviz Technologies Ltd. [INVZ]: Deeper insight into the fundamentals

Innoviz Technologies Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.50 and a Current Ratio set at 12.70.

Insider trade positions for Innoviz Technologies Ltd. [INVZ]

There are presently around $208 million, or 37.40% of INVZ stock, in the hands of institutional investors. The top three institutional holders of INVZ stocks are: MAGMA VENTURE PARTNERS GENERAL PARTNER LTD. with ownership of 9,466,206, which is approximately 0% of the company’s market cap and around 31.60% of the total institutional ownership; ANTARA CAPITAL LP, holding 6,770,008 shares of the stock with an approximate value of $29.86 million in INVZ stocks shares; and COWEN AND COMPANY, LLC, currently with $14.33 million in INVZ stock with ownership of nearly 251.33% of the company’s market capitalization.

67 institutional holders increased their position in Innoviz Technologies Ltd. [NASDAQ:INVZ] by around 18,348,600 shares. Additionally, 19 investors decreased positions by around 3,869,762 shares, while 13 investors held positions by with 24,997,900 shares. The mentioned changes placed institutional holdings at 47,216,262 shares, according to the latest SEC report filing. INVZ stock had 44 new institutional investments in for a total of 11,823,479 shares, while 6 institutional investors sold positions of 1,180,610 shares during the same period.