We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Luminar Technologies, Inc. (LAZR) Stock Sinks As Market Gains: Here's Why
Read MoreHide Full Article
Luminar Technologies, Inc. (LAZR - Free Report) ended the recent trading session at $2.02, demonstrating a -3.35% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.4%. Elsewhere, the Dow saw a downswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.66%.
The company's shares have seen a decrease of 0.95% over the last month, not keeping up with the Auto-Tires-Trucks sector's gain of 4.7% and the S&P 500's gain of 1.02%.
The investment community will be closely monitoring the performance of Luminar Technologies, Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$1.08, marking a 55% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $17.59 million, showing a 13.56% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$4.5 per share and a revenue of $69.91 million, signifying shifts of +51.3% and -7.28%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Luminar Technologies, Inc. Such recent modifications usually signify the changing landscape of 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Luminar Technologies, Inc. is currently a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Luminar Technologies, Inc. (LAZR) Stock Sinks As Market Gains: Here's Why
Luminar Technologies, Inc. (LAZR - Free Report) ended the recent trading session at $2.02, demonstrating a -3.35% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.4%. Elsewhere, the Dow saw a downswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.66%.
The company's shares have seen a decrease of 0.95% over the last month, not keeping up with the Auto-Tires-Trucks sector's gain of 4.7% and the S&P 500's gain of 1.02%.
The investment community will be closely monitoring the performance of Luminar Technologies, Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$1.08, marking a 55% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $17.59 million, showing a 13.56% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$4.5 per share and a revenue of $69.91 million, signifying shifts of +51.3% and -7.28%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Luminar Technologies, Inc. Such recent modifications usually signify the changing landscape of 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Luminar Technologies, Inc. is currently a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.