Innoviz Technologies Ltd. [INVZ] stock Upgrade by Goldman analyst, price target now $9

Innoviz Technologies Ltd. [NASDAQ: INVZ] gained 4.21% or 0.21 points to close at $5.20 with a heavy trading volume of 3619314 shares. The company report on September 8, 2022 that Innoviz Selected by Leading Asia-based Automotive OEM to Serve as Direct LiDAR Supplier for Series Production Passenger Vehicles.


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Selection Represents Innoviz’s Fourth Major Design Win and Second Nomination for Series Production of Passenger Vehicles as a Direct Supplier.

Innoviz Technologies Ltd. (NASDAQ: INVZ) (the “Company” or “Innoviz”), a leading provider of high-performance LiDAR sensors and perception software, today announced that one of the leading Asia-based automotive OEMs has selected the Company to serve as its direct LiDAR supplier for series production passenger vehicles. Innoviz will supply InnovizTwo LiDAR sensor to position vehicles to upgrade to full L3 Automation.

It opened the trading session at $5.22, the shares rose to $5.32 and dropped to $5.03, the range by which the price of stock traded the whole day. The daily chart for INVZ points out that the company has recorded 42.47% gains over the past six months. However, it is still -79.93% lower than its most recent low trading price.

If we look at the average trading volume of 1.60M shares, INVZ reached to a volume of 3619314 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $8.67 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 0.36, with the Price to Sales ratio for INVZ stock in the period of the last 12 months amounting to 100.17. The Price to Book ratio for the last quarter was 2.81, with the Price to Cash per share for the same quarter was set at 1.55.

Trading performance analysis for INVZ stock

Innoviz Technologies Ltd. [INVZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.59. With this latest performance, INVZ shares dropped by -0.57% in over the last four-week period, additionally plugging by 42.47% over the last 6 months – not to mention a drop of -21.09% 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 55.83, with the RSI for the last a single of trading hit 57.24, and the three-weeks RSI is set at 55.61 for Innoviz Technologies Ltd. [INVZ]. The present Moving Average for the last 50 days of trading for this stock 4.56, while it was recorded at 4.97 for the last single week of trading, and 4.44 for the last 200 days.

Innoviz Technologies Ltd. [INVZ]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Innoviz Technologies Ltd. [INVZ] shares currently have an operating margin of -2884.25 and a Gross Margin at -91.88. Innoviz Technologies Ltd.’s Net Margin is presently recorded at -2809.35.

Return on Equity for this stock declined to -69.24, with Return on Assets sitting at -64.30.

Innoviz Technologies Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.10 and a Current Ratio set at 8.30.

An analysis of insider ownership at Innoviz Technologies Ltd. [INVZ]

There are presently around $345 million, or 46.90% of INVZ stock, in the hands of institutional investors. The top three institutional holders of INVZ stocks are: ANTARA CAPITAL LP with ownership of 10,985,840, which is approximately 3.198% of the company’s market cap and around 7.35% of the total institutional ownership; MAGMA VENTURE PARTNERS GENERAL PARTNER LTD., holding 9,466,206 shares of the stock with an approximate value of $49.22 million in INVZ stocks shares; and FIFTHDELTA LTD, currently with $37.55 million in INVZ stock with ownership of nearly 100.586% of the company’s market capitalization.

Positions in Innoviz Technologies Ltd. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 46 institutional holders increased their position in Innoviz Technologies Ltd. [NASDAQ:INVZ] by around 18,788,772 shares. Additionally, 32 investors decreased positions by around 6,842,680 shares, while 23 investors held positions by with 40,764,246 shares. The mentioned changes placed institutional holdings at 66,395,698 shares, according to the latest SEC report filing. INVZ stock had 21 new institutional investments in for a total of 3,918,591 shares, while 13 institutional investors sold positions of 3,148,460 shares during the same period.

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