Luminar Technologies, Inc. (LAZR) closed the most recent trading day at $1.55, moving +1.64% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.1%. On the other hand, the Dow registered a loss of 0.08%, and the technology-centric Nasdaq increased by 0.28%.
Coming into today, shares of the company had gained 6.29% in the past month. In that same time, the Auto-Tires-Trucks sector gained 16.17%, while the S&P 500 gained 4.08%.
Market participants will be closely following the financial results of Luminar Technologies, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.20, indicating a 4.76% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $19.12 million, indicating a 18.02% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.65 per share and a revenue of $114.48 million, representing changes of +25.29% and +64.06%, respectively, from the prior year.
Any recent changes to analyst estimates for Luminar Technologies, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 1.35% fall in the Zacks Consensus EPS estimate. Luminar Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 195, this industry ranks in the bottom 23% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>Luminar Technologies, Inc. (LAZR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
