J.P. Morgan analyst Jash Patwa has maintained their bullish stance on INVZ stock, giving a Buy rating today.
Jash Patwa has given his Buy rating due to a combination of factors that highlight Innoviz Technologies’ strategic positioning and financial discipline. The company’s recent quarterly results were in line with expectations, showing a solid gross profit and a controlled cash flow burn, which underscores their effective cost management strategies. Innoviz’s focus on joint-development efforts with major automakers and platform partners, such as their integration with Nvidia’s Hyperion platform, is expected to drive significant revenue through non-recurring engineering services.
Furthermore, Innoviz is making substantial progress in its technology development, particularly with the InnovizTwo LiDAR sensors, which are advancing towards production readiness. The company’s expansion of its manufacturing capacity and its robust pipeline of requests for information and quotations from automakers indicate strong future demand. Additionally, the recent equity raise has extended Innoviz’s liquidity runway, making the risk-reward profile attractive in a competitive market. These factors collectively contribute to Jash Patwa’s optimistic outlook and Buy rating for Innoviz Technologies.
In another report released today, Rosenblatt Securities also reiterated a Buy rating on the stock with a $4.00 price target.