Luminar Technologies (NASDAQ:LAZR) Issues Earnings Results, Beats Estimates By $0.06 EPS

Luminar Technologies (NASDAQ:LAZRGet Free Report) issued its earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.06, Briefing.com reports. The company had revenue of $15.49 million during the quarter, compared to analyst estimates of $17.70 million. Luminar Technologies’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.33) earnings per share.

Luminar Technologies Stock Up 10.8 %

Luminar Technologies stock traded up $0.11 during mid-day trading on Tuesday, hitting $1.13. The company’s stock had a trading volume of 34,458,292 shares, compared to its average volume of 15,383,319. Luminar Technologies has a twelve month low of $0.73 and a twelve month high of $3.69. The stock’s fifty day moving average price is $0.85 and its two-hundred day moving average price is $1.25. The stock has a market capitalization of $557.95 million, a P/E ratio of -0.89 and a beta of 1.61.

Analysts Set New Price Targets

Several research analysts have commented on LAZR shares. Rosenblatt Securities restated a “neutral” rating and issued a $2.00 target price on shares of Luminar Technologies in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.00 target price on shares of Luminar Technologies in a research report on Tuesday, September 10th. Westpark Capital reiterated a “buy” rating and set a $9.00 price target on shares of Luminar Technologies in a research report on Tuesday, August 6th. Craig Hallum lowered their price target on Luminar Technologies from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.40.

View Our Latest Research Report on Luminar Technologies

Luminar Technologies Company Profile

(Get Free Report)

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.

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Earnings History for Luminar Technologies (NASDAQ:LAZR)

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