In the latest trading session, Luminar Technologies, Inc. (LAZR) closed at $1.69, marking a -1.74% move from the previous day. This change lagged the S&P 500's 0.58% gain on the day. Meanwhile, the Dow experienced a rise of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.89%.
Prior to today's trading, shares of the company had lost 22.52% lagged the Auto-Tires-Trucks sector's gain of 1.15% and the S&P 500's gain of 0.16%.
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 -$1.08 per share, which would represent year-over-year growth of 55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.59 million, up 13.56% from the year-ago period.
LAZR's full-year Zacks Consensus Estimates are calling for earnings of -$4.5 per share and revenue of $69.91 million. These results would represent year-over-year changes of +51.3% and -7.28%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Luminar Technologies, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Luminar Technologies, Inc. possesses 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 77, finds itself in the top 32% echelons 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): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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