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Luminar Technologies, Inc. (LAZR) Gains As Market Dips: What You Should Know
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Luminar Technologies, Inc. (LAZR - Free Report) closed the most recent trading day at $5.95, moving +1.54% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.16%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 7.95%.
Heading into today, shares of the company had lost 5.02% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 12.44% and lagging the S&P 500's gain of 1.53% in that time.
Investors will be hoping for strength from Luminar Technologies, Inc. as it approaches its next earnings release, which 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, our latest consensus estimate is calling for revenue of $13.23 million, up 92.86% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.80 per share and revenue of $89.92 million, which would represent changes of -2.56% and +120.95%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Luminar Technologies, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Luminar Technologies, Inc. is holding a Zacks Rank of #2 (Buy) right now.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains As Market Dips: What You Should Know
Luminar Technologies, Inc. (LAZR - Free Report) closed the most recent trading day at $5.95, moving +1.54% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.16%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 7.95%.
Heading into today, shares of the company had lost 5.02% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 12.44% and lagging the S&P 500's gain of 1.53% in that time.
Investors will be hoping for strength from Luminar Technologies, Inc. as it approaches its next earnings release, which 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, our latest consensus estimate is calling for revenue of $13.23 million, up 92.86% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.80 per share and revenue of $89.92 million, which would represent changes of -2.56% and +120.95%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Luminar Technologies, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Luminar Technologies, Inc. is holding a Zacks Rank of #2 (Buy) right now.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.