Innoviz Technologies Ltd. (NASDAQ: INVZ) stock jumped 2.09% on Monday to $5.37 against a previous-day closing price of $5.26. With 1.22 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.42 million shares. During the session, the Auto Parts company that operates in wider Consumer Cyclical sector, reached to the highest price of $5.48 whereas the lowest price it dropped to was $5.26. The 52-week range on INVZ shows that it touched its highest point at $6.21 and its lowest point at $2.89 during that stretch. It currently has a 1-year price target of $9.50.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of INVZ was up-trending over the past week, with a rise of 5.50%, but this was up by 36.64% over a month. Three-month performance surged to 16.74% while six-month performance rose 51.27%. The stock gained 43.97% in the past year, while it has gained 36.64% so far this year. A look at the trailing 12-month EPS for INVZ yields -0.92 with Next year EPS estimates of -0.89. For the next quarter, that number is -0.24. This implies an EPS growth rate of -88.40% for this year and -1.10% for next year.
Float and Shares Shorts:
At present, 135.60 million INVZ shares are outstanding with a float of 126.10 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.56 million, which was 1.88% higher than short shares on Sep 14, 2022. In addition to Mr. Omer David Keilaf as the firm’s Co-Founder, CEO & Director, Mr. Oren Buskila serves as its Co-Founder, Chief R&D Officer and Director.
Through their ownership of 46.48% of INVZ’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.23% of INVZ, in contrast to 40.58% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in INVZ with 9.18% of the stake, Antara Capital LP holds 12,469,391 shares worth 12,469,391. A second-largest stockholder of INVZ, FifthDelta Ltd., holds 7,871,358 shares, controlling over 5.80% of the firm’s shares. Cowen & Co. LLC is the third largest shareholder in INVZ, holding 6,916,390 shares or 5.09% stake.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INVZ since 6 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With INVZ analysts setting a high price target of $13.00 and a low target of $5.00, the average target price over the next 12 months is $9.50. Based on these targets, INVZ could surge 142.09% to reach the target high and fall by -6.89% to reach the target low. Reaching the average price target will result in a growth of 76.91% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. INVZ will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.78 being high and -$0.98 being low. For INVZ, this leads to a yearly average estimate of -$0.86. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Innoviz Technologies Ltd. surprised analysts by -$0.02 when it reported -$0.25 EPS against a consensus estimate of -$0.23. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.21 and the low estimate is -$0.30. The average estimate for the next quarter is thus -$0.24.