Fintel reports that on September 1, 2023, Goldman Sachs maintained coverage of Innoviz Technologies (NASDAQ:INVZ) with a Buy recommendation.

Analyst Price Forecast Suggests 263.77% Upside

As of August 31, 2023, the average one-year price target for Innoviz Technologies is 8.59. The forecasts range from a low of 4.54 to a high of $13.65. The average price target represents an increase of 263.77% from its latest reported closing price of 2.36.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Innoviz Technologies is 31MM, an increase of 525.39%. The projected annual non-GAAP EPS is -0.91.

What is the Fund Sentiment?

There are 125 funds or institutions reporting positions in Innoviz Technologies. This is a decrease of 3 owner(s) or 2.34% in the last quarter. Average portfolio weight of all funds dedicated to INVZ is 0.10%, a decrease of 72.73%. Total shares owned by institutions decreased in the last three months by 1.24% to 74,982K shares. The put/call ratio of INVZ is 2.89, indicating a bearish outlook.

What are Other Shareholders Doing?

FIFTHDELTA holds 11,500K shares representing 7.05% ownership of the company. In it’s prior filing, the firm reported owning 10,614K shares, representing an increase of 7.70%. The firm increased its portfolio allocation in INVZ by 37.60% over the last quarter.

Citigroup holds 7,821K shares representing 4.79% ownership of the company. In it’s prior filing, the firm reported owning 5,140K shares, representing an increase of 34.28%. The firm increased its portfolio allocation in INVZ by 148.09% over the last quarter.

Antara Capital holds 6,366K shares representing 3.90% ownership of the company. In it’s prior filing, the firm reported owning 7,064K shares, representing a decrease of 10.96%. The firm decreased its portfolio allocation in INVZ by 40.22% over the last quarter.

Jane Street Group holds 5,284K shares representing 3.24% ownership of the company. In it’s prior filing, the firm reported owning 4,450K shares, representing an increase of 15.79%. The firm decreased its portfolio allocation in INVZ by 20.86% over the last quarter.

Cowen And Company holds 5,016K shares representing 3.07% ownership of the company. In it’s prior filing, the firm reported owning 4,696K shares, representing an increase of 6.37%. The firm decreased its portfolio allocation in INVZ by 39.91% over the last quarter.

Innoviz Technologies Background Information
(This description is provided by the company.)

Innoviz is a leading manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass production of autonomous vehicles. Innoviz’s offerings include InnovizOne, an automotive-grade, mass-production LiDAR sensor, InnovizTwo, next generation high-performance automotive-grade LiDAR sensor, and Innoviz’s perception software, designed to complement its hardware offerings with advanced AI and machine learning-based classification, detection and tracking features. Innoviz is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, Vertex Ventures, 360 Capital Partners, Harel Insurance Investments and Financial Services, Phoenix Insurance Company and others. Innoviz recently announced it will be listed on NASDAQ through a business combination with Collective Growth Company.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.