Luminar Technologies, Inc. (LAZR) ended the recent trading session at $1.94, demonstrating a +2.65% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.53%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 0.52%.
The stock of company has fallen by 18.18% in the past month, lagging the Auto-Tires-Trucks sector's gain of 0.65% and the S&P 500's gain of 0.71%.
The investment community will be closely monitoring the performance of Luminar Technologies, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$1.08, indicating a 55% growth compared to the equivalent quarter last 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.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$4.5 per share and a revenue of $69.91 million, indicating changes of +51.3% and -7.28%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Luminar Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Luminar Technologies, Inc. is carrying a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 88, finds itself in the top 36% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Luminar Technologies, Inc. (LAZR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
