11 Best Lidar Stocks to Buy According to Hedge Funds

8. Innoviz Technologies Ltd. (NASDAQ:INVZ)

Number of Hedge Fund Holders: 5

Innoviz Technologies Ltd. (NASDAQ:INVZ) supplies lidar sensors and perception software to auto manufacturers. The company kicked off the year on a high note after a successful presentation at 2025 International CES. It exhibited their latest lidar technology, which is already in use in BMW’s i7 and Volkswagen’s ID. Part of Innoviz’s presentation involved showing customers how its partnership with Mobileye has helped create one of the most accurate sensors for autonomous vehicles.

The company is also working with Nvidia to perfect its perception software. This software enhances autonomous driving, which is made possible by leveraging the NVIDIA DRIVE AGX Orin platform.

Omer Keilaf, CEO of Innoviz Technologies, commented on this partnership, saying:

“By leveraging the NVIDIA DRIVE Orin platform, we will be able to offer a powerful combination of cutting-edge lidar sensors and perception software, enabling automakers to scale from L2+ ADAS all the way to fully autonomous vehicles.”

On February 4, 2025, the company announced an operational optimization plan to accelerate its path to profitability. Part of the plan is to reduce the workforce by 9%, which should free up to $12 million every year.

Despite these developments, Innoviz’s stock is down 48% year-to-date (as of February 13, 2025). However, it is likely that the market is yet to appreciate the moves the company is making. This makes the stock a potential multi-bagger. No wonder Rosenblatt has a “Buy” rating on Innoviz shares with a price target of $4. This is a 360% upside based on the current price ($0.87).