As of May 2, 2023, Innoviz Technologies Ltd. remains a leading Tier-1 supplier of high-performance, automotive grade LiDAR sensors and perception software. One of its major clients, CARIAD SE, a subsidiary of the Volkswagen Group, has chosen Innoviz as its direct LiDAR supplier for the automated vehicle segment within the Volkswagen brands. Innoviz will provide InnovizTwo LiDAR sensors and perception software, both of which are crucial elements of advanced driver assist systems (ADAS) and autonomous vehicles (AVs).
Since being named as CARIAD’s direct LiDAR supplier, Innoviz has been working closely with the company to understand the unique engineering needs and optimize processes that will support the use of LiDAR-enabled ADAS and automated driving systems. Together, they are evaluating concepts to accelerate the integration of LiDAR systems, with the aim of improving time to market and lowering overall system costs.
Looking ahead, Innoviz is poised to deliver LiDAR technology for CARIAD’s future advanced driver assistance systems (ADAS) and automated driving functions. The two companies are discussing the possibility of expanding their partnership. Innoviz CEO and Co-Founder, Omer Keilaf, expressed his excitement, saying, “We are thrilled to further discuss possibilities of expanding our relationship with CARIAD and accelerating the adoption of LiDAR”.
INVZ Stock Update: May 2, 2023 Trading Activity and EPS Forecast
On May 2, 2023, INVZ stock opened at 2.32, slightly lower than the previous day’s close of 2.35. The day’s range was between 2.17 and 2.32, with a volume of 66,595 shares traded. The average volume over the last three months was 1,636,992, indicating lower trading activity on this particular day. INVZ operates in the producer manufacturing sector, specifically in the electrical products industry. The next reporting date for INVZ is May 17, 2023, with an EPS forecast of -$0.22 for this quarter. Investors should monitor the company’s financial performance and upcoming earnings reports to make informed investment decisions.
Innoviz Technologies Ltd (INVZ) Stock Forecast: Analysts Predict 218.18% Increase in 12 Months
On May 2, 2023, Innoviz Technologies Ltd (INVZ) stock had a median target price forecast of $7.00, as predicted by six analysts offering 12-month price forecasts. The high estimate of the stock price was $13.00, while the low estimate was $4.50. This median estimate represents a significant increase of +218.18% from the last price of $2.20. The current consensus among the six polled investment analysts is to buy stock in Innoviz Technologies Ltd, with a rating that has held steady since October. The company is set to release its next earnings report on May 17, 2023. Innoviz Technologies Ltd is a leading provider of LiDAR sensors and perception software for autonomous vehicles.