Luminar Technologies, Inc. (LAZR) Stock Declines While Market Improves: Some Information for Investors

In the latest trading session, Luminar Technologies, Inc. (LAZR) closed at $1.69, marking a -1.74% move from the previous day. This change lagged the S&P 500's 0.58% gain on the day. Meanwhile, the Dow experienced a rise of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.89%. Prior to today's trading, shares of the company had lost 22.52% lagged the Auto-Tires-Trucks sector's gain of 1.15% and the S&P 500's gain of 0.16%.Analysts and investors alike will be keeping a close eye on the performance of Luminar Technologies, Inc. in its upcoming earnings disclosure. On that day, Luminar Technologies, Inc. is projected to report earnings of -$1.08 per share, which would represent year-over-year growth of 55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.59 million, up 13.56% from the year-ago period. LAZR's full-year Zacks Consensus Estimates are calling for earnings of -$4.5 per share and revenue of $69.91 million. These results would represent year-over-year changes of +51.3% and -7.28%, respectively. Investors should also take note of any recent adjustments to analyst estimates for Luminar Technologies, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Luminar Technologies, Inc. possesses a Zacks Rank of #3 (Hold). The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 32% echelons of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow LAZR in the coming trading sessions, be sure to utilize Zacks.com. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Luminar Technologies, Inc. (LAZR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks