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Luminar Technologies, Inc. (LAZR) Gains But Lags Market: What You Should Know
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Luminar Technologies, Inc. (LAZR - Free Report) closed the most recent trading day at $14, moving +0.29% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.61%. Elsewhere, the Dow gained 1.45%, while the tech-heavy Nasdaq added 0.05%.
Heading into today, shares of the company had lost 0.99% over the past month, lagging the Auto-Tires-Trucks sector's gain of 2.25% and outpacing the S&P 500's loss of 1.42% in that time.
Luminar Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be May 5, 2022. The company is expected to report EPS of -$0.16, down 100% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.93 million, up 86.93% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.63 per share and revenue of $44.43 million, which would represent changes of -65.79% and +39.1%, respectively, from the prior year.
Any recent changes to analyst estimates for Luminar Technologies, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Luminar Technologies, Inc. currently has a Zacks Rank of #5 (Strong Sell).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 237, which puts it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Luminar Technologies, Inc. (LAZR) Gains But Lags Market: What You Should Know
Luminar Technologies, Inc. (LAZR - Free Report) closed the most recent trading day at $14, moving +0.29% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.61%. Elsewhere, the Dow gained 1.45%, while the tech-heavy Nasdaq added 0.05%.
Heading into today, shares of the company had lost 0.99% over the past month, lagging the Auto-Tires-Trucks sector's gain of 2.25% and outpacing the S&P 500's loss of 1.42% in that time.
Luminar Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be May 5, 2022. The company is expected to report EPS of -$0.16, down 100% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.93 million, up 86.93% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.63 per share and revenue of $44.43 million, which would represent changes of -65.79% and +39.1%, respectively, from the prior year.
Any recent changes to analyst estimates for Luminar Technologies, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Luminar Technologies, Inc. currently has a Zacks Rank of #5 (Strong Sell).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 237, which puts it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.