Wall Street brokerages expect Luminar Technologies, Inc. (NASDAQ:LAZR) to announce $3.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Luminar Technologies' earnings, with the highest sales estimate coming in at $4.00 million and the lowest estimate coming in at $3.90 million. The firm is expected to report its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Luminar Technologies will report full year sales of $15.14 million for the current financial year, with estimates ranging from $15.00 million to $15.42 million. For the next financial year, analysts expect that the business will report sales of $25.83 million, with estimates ranging from $25.50 million to $26.00 million. Zacks' sales averages are an average based on a survey of analysts that cover Luminar Technologies.
LAZR has been the subject of several research analyst reports. Robert W. Baird initiated coverage on shares of Luminar Technologies in a research note on Tuesday, December 22nd. They set a "neutral" rating and a $30.00 target price for the company. Smith Barney Citigroup initiated coverage on shares of Luminar Technologies in a research note on Wednesday, January 6th. They issued a "buy" rating and a $40.00 price objective for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on shares of Luminar Technologies in a research note on Wednesday, January 6th. They issued a "buy" rating and a $40.00 price objective for the company. R. F. Lafferty initiated coverage on shares of Luminar Technologies in a research note on Thursday, January 14th. They set a "buy" rating and a $38.00 price target for the company. Finally, Northland Securities cut shares of Luminar Technologies from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $41.00 to $38.00 in a research note on Tuesday, January 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Luminar Technologies has a consensus rating of "Buy" and a consensus target price of $37.17.
LAZR opened at $29.47 on Thursday. The company's fifty day moving average is $33.28. Luminar Technologies has a fifty-two week low of $9.45 and a fifty-two week high of $47.80.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in Luminar Technologies during the 4th quarter valued at about $411,000. Retirement Group LLC bought a new position in shares of Luminar Technologies during the 4th quarter worth approximately $323,000. Canvas GP 1 L.L.C. bought a new position in shares of Luminar Technologies during the 4th quarter worth approximately $234,850,000. Intellectus Partners LLC bought a new position in shares of Luminar Technologies during the 4th quarter worth approximately $1,693,000. Finally, Truist Financial Corp bought a new position in shares of Luminar Technologies during the 4th quarter worth approximately $202,000. Institutional investors own 7.78% of the company's stock.
About Luminar Technologies
Luminar Technologies, Inc operates as a vehicle sensor and software company for passenger vehicles and trucks. The company operates in two segments, Autonomy Solutions and Other Component Sales. The Autonomy Solutions segment designs, manufactures, and sells lidar sensors, and related perception and autonomy software solutions for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and other related industries.
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