Innoviz: Growing Into An Undisputed Lidar Leader

Summary

  • Another automotive OEM win from a customer based in Asia shows strong business momentum, attractive technology and offerings of the Innoviz LiDAR.
  • Innoviz is expanding geographically as it takes its first steps into the fast growing automotive and non-automotive segments in Asia.
  • Growing large deals has been a strong differentiator for Innoviz as it has BMW, Volkswagen and now, the Asian automotive OEM as its customers.
  • Innoviz is also on track to move into series production in 2023 for its European shuttle program and the BMW program.
  • My 1-year price target for Innoviz is $9.35, implying 72% upside from current levels.
Top view of self-driving SUV on the road with sensing graphic pattern retouched

Chesky_W

Investment thesis

Innoviz (NASDAQ:INVZ) continues to execute beyond expectations, better than competitors as it looks to differentiate itself in the long-term. The company has one of the most impressive order books from large automotive OEMs, with a strong pipeline for the next

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Simple Investing is a former hedge fund and long-only portfolio manager with a track record for outperformance. He managed more than $1 billion in AUM, and is a CFA charter holder who holds degrees in Finance and Accounting. He runs the Investing Group Outperforming the Market.

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Analyst’s Disclosure:I/we have a beneficial long position in the shares of INVZ either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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