Luminar Technologies Inc (NASDAQ: LAZR) In 2024: Reward Or Shame To Investors?

In the last trading session, 5.49 million shares of the Luminar Technologies Inc (NASDAQ:LAZR) were traded, and its beta was 1.57. Most recently the company’s share price was $1.31, and it changed around $0.05 or 3.97% from the last close, which brings the market valuation of the company to $552.68M. LAZR currently trades at a discount to its 52-week high of $8.32, offering almost -535.11% off that amount. The share price’s 52-week low was $1.21, which indicates that the current value has risen by an impressive 7.63% since then. We note from Luminar Technologies Inc’s average daily trading volume that its 3-month average coming to 7.79 million.

Luminar Technologies Inc (NASDAQ:LAZR) trade information

Instantly LAZR has showed a green trend with a performance of 3.97% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -61.13% year-to-date, but still up 0.77% over the last five days. On the other hand, Luminar Technologies Inc (NASDAQ:LAZR) is -26.82% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $16, which translates to bulls needing to increase their stock price by 91.81% from its current value. Analyst projections state that LAZR is forecast to be at a low of $8 and a high of $21.

Luminar Technologies Inc (LAZR) estimates and forecasts

Luminar Technologies Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -66.41 percent over the past six months and at a 24.14% annual growth rate that is well above the industry average of 12.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 16.70% in revenue this quarter, and will report an increase of 9.50% in the next quarter. The year-over-year growth rate is expected to be 64.70%, up from the previous year.

Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $21.14 million in revenue for the current quarter. 10 analysts expect Luminar Technologies Inc to make $24.43 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were -$ and $16.2 million respectively. Forecasts for the next quarter put sales growth at 50.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -416.28%. Luminar Technologies Inc earnings are expected to increase by 20.44% in 2024, but the outlook is positive 43.50% per year for the next five years.