
Luminar Technologies (LAZR) Stock Forecast & Price Target
Luminar Technologies (LAZR) Analyst Ratings
Bulls say
Luminar Technologies Inc is experiencing a positive outlook due to its shift in guidance indicating a move toward a stronger revenue run-rate by FY25, supported by significant production wins with major clients like Volvo, Mercedes, and SAIC. The company's improved cash and liquidity position, surpassing $240 million, along with a successful restructuring to reduce total convertible debt and raise new capital, has fortified its balance sheet. Additionally, Luminar's strategic initiatives to streamline operations and achieve annual savings of $80 million while continuing to progress with its Iris platform and increasing manufacturing efficiency are likely to enhance its future growth potential.
Bears say
Luminar Technologies Inc. reported a Q2 FY24 revenue of $16.5 million, which reflected a decline of 22% quarter-over-quarter and only a marginal increase of 2% year-over-year, falling short of analysts' expectations. The revenue drop is attributed to insufficient series production sensor sales, challenges in negotiating non-series production contracts, and increased engineering costs, leading to downward revisions in net income and EPS estimates for FY24 and FY25. Additionally, the transition from prototype to series production is expected to further pressure financial performance, as lower average selling prices (ASPs) will contribute to increased gross losses in the upcoming quarters.
This aggregate rating is based on analysts' research of Luminar Technologies and is not a guaranteed prediction by Public.com or investment advice.
Luminar Technologies (LAZR) Analyst Forecast & Price Prediction
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