Innoviz Technologies Ltd (INVZ)

[WeTheMarket]

3 Lidar Stocks to Buy as Amazon Bet Shines Light on Autonomous Vehicles
The pullback in lidar stocks offers an attractive opportunity for patient long-term investors
2/18/2022, By Tezcan Gecgil, InvestorPlace Contributor
https://investorplace.com/2022/02/3-lidar-stocks-to-buy-as-amazon-bet-shines-light-on-autonomous-vehicles-vldr-amzn-invz-lazr-oust/

.... here are three lidar stocks that could gain significant traction this year:
- Innoviz Technologies (NASDAQ:INVZ)
- Luminar Technologies (NASDAQ:LAZR)
- Ouster (NYSE:OUST)

Lidar Stocks: Innoviz Technologies (INVZ)
52-week range: $3.19 – $14.19

Israel-based Innoviz Technologies designs lidar semiconductor sensors as well as perception software. Its products are found in numerous industries, such as automotive, robotics, drones, and mapping. The company aims to gain market share by offering lidar systems at low-cost.

For instance, Innoviz manufactures a solid-state lidar system at 905 nanometers (nm). On the other hand, our next stock, Luminar, manufactures at 1,550 nm. The 905 nm lidar costs significantly less than the 1,550 nm. counterpart.

Innoviz announced third-quarter 2021 results on Nov. 10. Revenue increased 13% year-over-year (YOY) to $2.1 million. Net loss stood at $26.4 million, or 20 cents loss per diluted share, compared to a net loss of $15.7 million a year ago. Cash and equivalents ended the quarter at $139.5 million.

The lidar maker boasts a partnership with BMW (OTCMKTS:BMWYY) to implement its InnovizOne sensors. Meanwhile, its next-generation InnovizTwo sensors achieve a 30x performance improvement over InnovizOne, as well as a 70% cost reduction. Analysts point out that the newer technology could accelerate the adoption process by more vehicles.

Moreover, INVZ recently launched Innoviz360, a patent-pending HD lidar architecture. Industry watchers point out that that it enables multiple scanning software configurations at a lower cost.

INVZ stock is priced at $4, down almost 70% over the past year. The 12-month median price forecast for Innoviz stock stands at $9. Interested readers could consider buying around the current level. It is due to report earnings on March 2.