Luminar Technologies (LAZR) Set to Announce Quarterly Earnings on Tuesday

Luminar Technologies (NASDAQ:LAZR) will be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.22) per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The business had revenue of $22.11 million for the quarter, compared to analyst estimates of $27.25 million. On average, analysts expect Luminar Technologies to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Luminar Technologies Price Performance

Shares of NASDAQ LAZR opened at $1.68 on Monday. The company has a 50-day moving average price of $1.78 and a 200-day moving average price of $2.52. The stock has a market capitalization of $708.77 million, a P/E ratio of -1.14 and a beta of 1.54. Luminar Technologies has a 1 year low of $1.21 and a 1 year high of $8.32.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Rosenblatt Securities dropped their price objective on Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Bank of America restated an “underperform” rating and issued a $1.20 target price (down from $3.50) on shares of Luminar Technologies in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $4.00 price target (down previously from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $8.00 price target (down from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. Finally, The Goldman Sachs Group decreased their price objective on shares of Luminar Technologies from $2.00 to $1.50 and set a “sell” rating on the stock in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.39.

About Luminar Technologies

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.