Luminar Technologies, Inc. (NASDAQ:LAZR) Receives $50.06 Consensus Price Target from Analysts

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) have been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $50.06.

A number of brokerages have commented on LAZR. Rosenblatt Securities reaffirmed a “neutral” rating and set a $30.00 target price on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Craig Hallum decreased their price objective on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group cut their target price on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a research note on Thursday, November 14th.

Institutional Investors Weigh In On Luminar Technologies

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Luminar Technologies in the 3rd quarter valued at about $316,000. Barclays PLC grew its holdings in shares of Luminar Technologies by 469.2% in the third quarter. Barclays PLC now owns 842,288 shares of the company’s stock valued at $757,000 after purchasing an additional 694,315 shares in the last quarter. Geode Capital Management LLC increased 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 worth $7,896,000 after buying an additional 1,331,067 shares during the period. LRI Investments LLC boosted its position in Luminar Technologies by 32,352.8% in the 3rd quarter. LRI Investments LLC now owns 162,264 shares of the company’s stock valued at $146,000 after buying an additional 161,764 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in shares of Luminar Technologies in the third quarter worth $457,000. 30.99% of the stock is owned by institutional investors and hedge funds.

Luminar Technologies Price Performance

Shares of Luminar Technologies stock opened at $7.83 on Friday. The stock’s 50 day simple moving average is $9.01 and its 200-day simple moving average is $14.24. The stock has a market cap of $260.84 million, a P/E ratio of -0.59 and a beta of 1.60. Luminar Technologies has a 1-year low of $4.93 and a 1-year high of $53.48.

Luminar Technologies (NASDAQ:LAZR) last issued its earnings results on Monday, November 11th. The company reported ($2.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.30) by $0.90. The company had revenue of $15.49 million during the quarter, compared to analysts’ expectations of $17.70 million. During the same quarter in the previous year, the company earned ($4.95) earnings per share. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. As a group, research analysts expect that Luminar Technologies will post -14.2 EPS for the current fiscal year.

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.