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In the latest trading session, Luminar Technologies, Inc. (LAZR) closed at $5, marking a -1.96% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 4.84%. Meanwhile, the Dow lost 3.98%, and the Nasdaq, a tech-heavy index, lost 5.97%.
Shares of the company witnessed a loss of 3.23% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 4.25% and the S&P 500's loss of 4.7%.
The investment community will be paying close attention to the earnings performance of Luminar Technologies, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$1.75, marking a 38.6% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $17.04 million, indicating a 18.76% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$5.80 per share and a revenue of $88.47 million, signifying shifts of +37.23% and +17.34%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Luminar Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 has shifted 14.5% upward. Luminar Technologies, Inc. is holding a Zacks Rank of #2 (Buy) right now.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 136, putting it in the bottom 46% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.