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

Luminar Technologies, Inc. (NASDAQ:LAZR) has been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $50.06.

A number of research firms have recently weighed in on LAZR. Rosenblatt Securities reissued a “neutral” rating and set a $30.00 target price on shares of Luminar Technologies in a report on Wednesday, October 2nd. The Goldman Sachs Group dropped their price objective on shares of Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $15.00 target price on shares of Luminar Technologies in a report on Tuesday, September 10th. Finally, Craig Hallum reduced their price target on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th.

Luminar Technologies Stock Up 4.2 %

LAZR opened at $8.84 on Friday. The stock has a market cap of $294.49 million, a price-to-earnings ratio of -0.66 and a beta of 1.60. Luminar Technologies has a 12-month low of $4.93 and a 12-month high of $53.48. The business has a 50 day moving average of $9.19 and a 200-day moving average of $14.33.

Luminar Technologies (NASDAQ:LAZR) last released its quarterly earnings data on Monday, November 11th. The company reported ($2.40) 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 analyst estimates of $17.70 million. During the same quarter in the prior year, the firm earned ($4.95) earnings per share. Luminar Technologies’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, analysts expect that Luminar Technologies will post -14.2 earnings per share for the current year.

Hedge Funds Weigh In On Luminar Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. PFG Investments LLC boosted its stake in Luminar Technologies by 13.9% in the second quarter. PFG Investments LLC now owns 81,894 shares of the company’s stock valued at $122,000 after buying an additional 10,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Luminar Technologies by 30.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 54,452 shares of the company’s stock valued at $49,000 after purchasing an additional 12,685 shares during the last quarter. Howard Financial Services LTD. increased its position in Luminar Technologies by 24.0% during the 3rd quarter. Howard Financial Services LTD. now owns 72,425 shares of the company’s stock worth $65,000 after purchasing an additional 14,000 shares in the last quarter. Malaga Cove Capital LLC lifted its stake in Luminar Technologies by 10.6% in the 2nd quarter. Malaga Cove Capital LLC now owns 148,584 shares of the company’s stock valued at $221,000 after purchasing an additional 14,300 shares during the last quarter. Finally, Fore Capital LLC boosted its position in Luminar Technologies by 50.0% in the second quarter. Fore Capital LLC now owns 45,000 shares of the company’s stock valued at $67,000 after buying an additional 15,000 shares in the last quarter. Institutional investors own 30.99% of the company’s stock.

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.