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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 $8.25, moving +1.98% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.24%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Prior to today's trading, shares of the company had gained 6.87% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 4% and lagged the S&P 500's gain of 8.12% in that time.
Wall Street will be looking for positivity from Luminar Technologies, Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.21, down 110% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.15 million, up 14.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.77 per share and revenue of $42.38 million, which would represent changes of -102.63% and +32.67%, 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. 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.
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 has moved 1.3% lower. Luminar Technologies, Inc. is currently a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow LAZR in the coming trading sessions, be sure to utilize 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 $8.25, moving +1.98% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.24%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Prior to today's trading, shares of the company had gained 6.87% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 4% and lagged the S&P 500's gain of 8.12% in that time.
Wall Street will be looking for positivity from Luminar Technologies, Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.21, down 110% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.15 million, up 14.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.77 per share and revenue of $42.38 million, which would represent changes of -102.63% and +32.67%, 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. 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.
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 has moved 1.3% lower. Luminar Technologies, Inc. is currently a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow LAZR in the coming trading sessions, be sure to utilize Zacks.com.