Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $3.40 Consensus Target Price from Analysts

Luminar Technologies, Inc. (NASDAQ:LAZR) has earned an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $3.34.

A number of brokerages recently issued reports on LAZR. Rosenblatt Securities reiterated a “neutral” rating and issued a $2.00 price objective on shares of Luminar Technologies in a report on Wednesday, October 2nd. The Goldman Sachs Group lowered their price objective on Luminar Technologies from $0.75 to $0.50 and set a “sell” rating on the stock in a report on Thursday, November 14th. Craig Hallum cut their price objective on Luminar Technologies from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. Westpark Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of Luminar Technologies in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.00 price target on shares of Luminar Technologies in a research report on Tuesday, September 10th.

Luminar Technologies Price Performance

Shares of Luminar Technologies stock opened at $0.86 on Thursday. The firm has a market cap of $427.05 million, a price-to-earnings ratio of -0.97 and a beta of 1.61. The stock has a 50-day simple moving average of $0.86 and a 200-day simple moving average of $1.23. Luminar Technologies has a 52-week low of $0.73 and a 52-week high of $3.69.

Luminar Technologies (NASDAQ:LAZR) last posted its earnings results on Monday, November 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06. The business had revenue of $15.49 million during the quarter, compared to analyst estimates of $17.70 million. During the same quarter last year, the firm earned ($0.33) earnings per share. Luminar Technologies’s revenue was down 8.6% compared to the same quarter last year. As a group, equities research analysts predict that Luminar Technologies will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Luminar Technologies

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in Luminar Technologies by 17.9% during the 3rd quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company’s stock valued at $7,896,000 after purchasing an additional 1,331,067 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Luminar Technologies by 5.1% during the first quarter. Vanguard Group Inc. now owns 27,024,843 shares of the company’s stock valued at $53,239,000 after buying an additional 1,319,480 shares during the last quarter. Boulder Hill Capital Management LP bought a new stake in shares of Luminar Technologies in the first quarter valued at about $1,375,000. Barclays PLC grew its position in Luminar Technologies by 469.2% during the third quarter. Barclays PLC now owns 842,288 shares of the company’s stock worth $757,000 after buying an additional 694,315 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in Luminar Technologies by 819.6% during the third quarter. XTX Topco Ltd now owns 649,175 shares of the company’s stock valued at $584,000 after acquiring an additional 578,582 shares during the period. 30.99% of the stock is owned by institutional investors.

Luminar Technologies Company Profile

Luminar Technologies, Inc, an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. It operates in two segments, Autonomy Solutions and Advanced Technologies and Services. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors or lidars, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.