Innoviz Technologies (NASDAQ:INVZ) Announces Quarterly Earnings Results, Hits Expectations

Innoviz Technologies (NASDAQ:INVZ) announced its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11), Zacks reports. Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. Innoviz Technologies updated its FY 2025 guidance to EPS.

Innoviz Technologies Stock Down 3.9 %

Shares of NASDAQ INVZ traded down $0.03 during mid-day trading on Wednesday, hitting $0.78. 18,859,136 shares of the company traded hands, compared to its average volume of 14,748,452. Innoviz Technologies has a 1 year low of $0.45 and a 1 year high of $3.14. The business has a 50 day moving average of $1.48 and a two-hundred day moving average of $0.98. The stock has a market capitalization of $106.36 million, a price-to-earnings ratio of -1.21 and a beta of 0.72.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INVZ. The Goldman Sachs Group lowered their target price on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Westpark Capital reissued a “buy” rating and issued a $2.22 price target on shares of Innoviz Technologies in a report on Tuesday. Rosenblatt Securities raised Innoviz Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, Cantor Fitzgerald downgraded shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Innoviz Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $3.19.

About Innoviz Technologies

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.