Innoviz Technologies Ltd. Expected to Earn FY2023 Earnings of ($0.98) Per Share (NASDAQ:INVZ)

Innoviz Technologies Ltd.  Expected to Earn FY2023 Earnings of ($0.98) Per Share (NASDAQ:INVZ)

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Innoviz Technologies Ltd. (NASDAQ:INVZ – Get Rating) – Cantor Fitzgerald dropped their FY2023 earnings estimates for shares of Innoviz Technologies in a report released on Thursday, May 18th. Cantor Fitzgerald analyst A. Sheppard now expects that the company will post earnings of ($0.98) per share for the year, down from their previous estimate of ($0.97). The consensus estimate for Innoviz Technologies’ current full-year earnings is ($0.91) per share.

Several other analysts have also recently weighed in on INVZ. The Goldman Sachs Group dropped their price objective on shares of Innoviz Technologies from $7.00 to $4.50 and set a “buy” rating for the company in a research note on Wednesday, April 12th. Rosenblatt Securities reiterated a “neutral” rating and issued a $5.00 price objective on shares of Innoviz Technologies in a research note on Thursday, April 6th.

Innoviz Technologies Stock Performance

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Shares of INVZ stock opened at $2.62 on Monday. The company has a market capitalization of $357.16 million, a price-to-earnings ratio of -2.70 and a beta of 0.49. The company has a 50-day simple moving average of $2.98 and a 200-day simple moving average of $4.10. Innoviz Technologies has a 52 week low of $2.09 and a 52 week high of $6.21.

Innoviz Technologies (NASDAQ:INVZ – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $1.58 million for the quarter, compared to the consensus estimate of $2.20 million. Innoviz Technologies has a negative return on equity of 63.69% and a negative net margin of 2,497.99%.

Institutional Trading of Innoviz Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of INVZ. Squarepoint Ops LLC raised its position in shares of Innoviz Technologies by 29.9% in the 4th quarter. Squarepoint Ops LLC now owns 15,587 shares of the company’s stock valued at $61,000 after buying an additional 3,587 shares in the last quarter. Wolverine Asset Management LLC raised its position in shares of Innoviz Technologies by 19.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 27,356 shares of the company’s stock valued at $142,000 after buying an additional 4,525 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Innoviz Technologies by 2.6% in the 1st quarter. Geode Capital Management LLC now owns 218,628 shares of the company’s stock valued at $765,000 after buying an additional 5,507 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Innoviz Technologies by 3.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 185,772 shares of the company’s stock valued at $650,000 after buying an additional 5,605 shares in the last quarter. Finally, Itau Unibanco Holding SA acquired a new position in shares of Innoviz Technologies in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 51.74% of the company’s stock.

Innoviz Technologies Company Profile

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Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles. The company manufactures InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxi, shuttle, trucking, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.

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