Innoviz Technologies Ltd [NASDAQ: INVZ] jumped around 0.01 points on Thursday, while shares priced at $1.48 at the close of the session, up 0.68%. The company report on February 28, 2024 at 7:00 AM that Innoviz Reports Fourth Quarter and Full Year 2023 Results, Exceeding Revenue Guidance.
Full year 2023 revenues of approximately $21M exceeded guidance with year-over-year growth of 246%.
Q4 2023 revenues of approximately $15M exceeded guidance with 328% growth quarter-over-quarter and 846% growth year-over-year.
Compared to the average trading volume of 3.00M shares, INVZ reached a trading volume of 3472821 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 $4.55 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 1.40. 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.
Rosenblatt have made an estimate for Innoviz Technologies Ltd shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 25, 2022. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on September 28, 2022, representing the official price target for Innoviz Technologies Ltd stock. Previously, the target price had yet another raise to $22, while JP Morgan analysts kept a Overweight rating on INVZ stock. On November 17, 2021, analysts increased their price target for INVZ shares from 7 to 9.
The Average True Range (ATR) for Innoviz Technologies Ltd is set at 0.11, with the Price to Sales ratio for INVZ stock in the period of the last 12 months amounting to 11.75.
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 11.28. With this latest performance, INVZ shares dropped by -5.13% in over the last four-week period, additionally sinking by -21.69% over the last 6 months – not to mention a drop of -55.56% 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 52.36, with the RSI for the last a single of trading hit 58.45, and the three-weeks RSI is set at 48.62 for Innoviz Technologies Ltd [INVZ]. The present Moving Average for the last 50 days of trading for this stock 1.5348, while it was recorded at 1.4280 for the last single week of trading, and 2.1121 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 4.26 and a Current Ratio set at 4.31.
Earnings analysis for Innoviz Technologies Ltd [INVZ]
With the latest financial reports released by the company, Innoviz Technologies Ltd posted -0.26/share EPS, while the average EPS was predicted by analysts to be reported at -0.22/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -18.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for INVZ.
Insider trade positions for Innoviz Technologies Ltd [INVZ]
The top three institutional holders of INVZ stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in INVZ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in INVZ stock with ownership which is approximately 5.8386%.
