![]() JP Morgan’s Samik Chatterjee initiated coverage of Innoviz Technologies with an Overweight rating and a $22 price target. Moreover, a number of analysts seem to like the stock. Meanwhile, in April, BMW said its new i7 series electric vehicles would be the first vehickes mnade by the iconic German company to incorporate Innoviz’s lidar sensors. That agreement raised INVZ backlog to $6.6 billion. Innoviz’s LiDAR and perception software “see” better than a human driver and reduce the possibility of error, meeting the automotive industry’s strictest expectations for performance and safety.Įarlier this year, Volkswagen selected INVZ to supply it with lidar technology for a number of its brands. Innoviz Technologies (NASDAQ: INVZ), a $753 million LiDAR technology company, is working towards a future that features safe, autonomous vehicles on the world’s roads. While we wait to see what happens next in the potential $5.6 billion market, here are three other lidar stocks that investors may want to consider.Īutonomous self driving electric car using lidar change the lane and overtakes city vehicle But they believe that together, they can “create a vibrant and healthy lidar industry by offering both affordable, high-performance sensors to drive mass adoption,” enabling them to generate profitable and sustainable revenue growth,” Velodyne CEO Dr. And Ouster and Velodyne agreed to merge in an all-stock deal, which will give each party a 50% stake in the combined firm.īoth Velodyne and Ouster have been losing money, and both have watched their stock valuations plummet. In 2021, Ouster (NYSE: OUST) acquired Sense Photonics. In fact, as pointed out by, Velodyne (NASDAQ: VLDR) recently acquired Bluecity.ai. Partly due to these trends, a number of lidar companies have combined with each other. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Unfortunately, the adoption of lidar has been slow, and the space has become highly competitive as lidar manufacturers have arisen all over the world. Moreover, the lidar-sensor market is expected to be worth about $5.6 billion by 2031, according to. It’s essentially the eyes and ears of autonomous vehicles and helps them avoid hitting people, animals, and other vehicles. The sensors can then measure the range or speed of objects, bounce lasers off the objects, and calculate their distance from the vehicle. Lidar allows vehicles’ computers to take a 3D image of the area around them. After all, lidar is an essential piece of the self-driving-auto puzzle. Beaten-down lidar stocks could provide investors with one of the biggest opportunities of 2023.
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