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Luminar Technologies, Inc. (LAZR) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Luminar Technologies, Inc. (LAZR - Free Report) closed at $5.61, marking a -1.58% move from the previous day. This change lagged the S&P 500's 0.09% gain on the day. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 4.87%.
Coming into today, shares of the company had lost 10.8% in the past month. In that same time, the Auto-Tires-Trucks sector gained 1.21%, while the S&P 500 gained 3.31%.
Wall Street will be looking for positivity from Luminar Technologies, Inc. as it approaches its next earnings report date. This is expected to be May 9, 2023. In that report, analysts expect Luminar Technologies, Inc. to post earnings of -$0.24 per share. This would mark a year-over-year decline of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.23 million, up 92.86% from the year-ago period.
LAZR's full-year Zacks Consensus Estimates are calling for earnings of -$0.80 per share and revenue of $89.92 million. These results would represent year-over-year changes of -2.56% and +120.95%, respectively.
Investors might also notice recent changes to analyst estimates for Luminar Technologies, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Luminar Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Luminar Technologies, Inc. (LAZR) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Luminar Technologies, Inc. (LAZR - Free Report) closed at $5.61, marking a -1.58% move from the previous day. This change lagged the S&P 500's 0.09% gain on the day. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 4.87%.
Coming into today, shares of the company had lost 10.8% in the past month. In that same time, the Auto-Tires-Trucks sector gained 1.21%, while the S&P 500 gained 3.31%.
Wall Street will be looking for positivity from Luminar Technologies, Inc. as it approaches its next earnings report date. This is expected to be May 9, 2023. In that report, analysts expect Luminar Technologies, Inc. to post earnings of -$0.24 per share. This would mark a year-over-year decline of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.23 million, up 92.86% from the year-ago period.
LAZR's full-year Zacks Consensus Estimates are calling for earnings of -$0.80 per share and revenue of $89.92 million. These results would represent year-over-year changes of -2.56% and +120.95%, respectively.
Investors might also notice recent changes to analyst estimates for Luminar Technologies, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Luminar Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.