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Luminar Technologies, Inc. (LAZR) Sees a More Significant Dip Than Broader Market: Some Facts to Know

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Luminar Technologies, Inc. (LAZR - Free Report) closed the latest trading day at $3.27, indicating a -5.49% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.27%.

Shares of the company witnessed a loss of 23.62% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its gain of 5.86%, and the S&P 500's gain of 6.9%.

Analysts and investors alike will be keeping a close eye on the performance of Luminar Technologies, Inc. in its upcoming earnings disclosure. On that day, Luminar Technologies, Inc. is projected to report earnings of -$1.19 per share, which would represent year-over-year growth of 55.93%. Meanwhile, our latest consensus estimate is calling for revenue of $16.72 million, up 1.64% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$4.29 per share and revenue of $86.64 million, which would represent changes of +53.57% and +14.91%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Luminar Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 21.36% higher within the past month. Luminar Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 131, which puts it in the bottom 47% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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