Fintel reports that on December 20, 2024, Rosenblatt upgraded their outlook for Innoviz Technologies (NasdaqCM:INVZ) from Neutral to Buy.
Analyst Price Forecast Suggests 94.29% Upside
As of December 3, 2024, the average one-year price target for Innoviz Technologies is $2.04/share. The forecasts range from a low of $0.76 to a high of $3.41. The average price target represents an increase of 94.29% from its latest reported closing price of $1.05 / share.
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The projected annual revenue for Innoviz Technologies is 151MM, an increase of 355.58%. The projected annual non-GAAP EPS is -0.76.
What is the Fund Sentiment?
There are 90 funds or institutions reporting positions in Innoviz Technologies. This is an decrease of 10 owner(s) or 10.00% in the last quarter. Average portfolio weight of all funds dedicated to INVZ is 0.14%, an increase of 84.90%. Total shares owned by institutions decreased in the last three months by 9.28% to 53,751K shares. 
The put/call ratio of INVZ is 0.33, indicating a bullish outlook.
What are Other Shareholders Doing?
Citigroup holds 8,106K shares representing 4.86% ownership of the company. In its prior filing, the firm reported owning 8,790K shares , representing a decrease of 8.43%. The firm decreased its portfolio allocation in INVZ by 67.95% over the last quarter.
Antara Capital holds 7,788K shares representing 4.67% ownership of the company. In its prior filing, the firm reported owning 600K shares , representing an increase of 92.30%. The firm increased its portfolio allocation in INVZ by 2,855.74% over the last quarter.
Migdal Insurance & Financial Holdings holds 5,995K shares representing 3.59% ownership of the company. No change in the last quarter.
Phoenix Holdings holds 4,981K shares representing 2.98% ownership of the company. No change in the last quarter.
Neuberger Berman Group holds 4,782K shares representing 2.87% ownership of the company. In its prior filing, the firm reported owning 4,417K shares , representing an increase of 7.62%. The firm decreased its portfolio allocation in INVZ by 8.53% 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.
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This story originally appeared on Fintel.
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