Luminar Technologies, Inc. (LAZR)
Chart Events
Performance Outlook
| Previous Close | 32.85 |
| Open | 32.30 |
| Bid | 34.12 x 800 |
| Ask | 34.00 x 900 |
| Day's Range | 31.75 - 34.40 |
| 52 Week Range | 9.45 - 47.80 |
| Volume | 6,168,308 |
| Avg. Volume | 11,610,596 |
| Market Cap | 11.014B |
| Beta (5Y Monthly) | N/A |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 36.25 |
Fair Value
Related Research
- TipRanks
Is Now the Time to Pull the Trigger on Luminar Stock? This Analyst Says ‘Yes’
Luminar Technologies (LAZR) went public through a SPAC merger with Gores Metropoulos in early December, and hardly any Wall Street analysts were covering the stock initially. However, fast forward to mid-January and the lidar maker is a buzzy name which has quickly gathered a growing list of investment firms eyeing its progress. The latest to join the fray is R.F. Lafferty’s Jaime Perez. The analyst initiated coverage of Luminar stock with a Buy rating and $38 price target. Investors could be pocketing gains of 27%, should Perez’ thesis play out accordingly over the next 12 months. (To watch Perez’ track record, click here) So, what does Perez like about Luminar? Well, for one, starting next year, leading OEMs including Volvo and Daimler will integrate Luminar’s LIDAR technology into their next generation vehicles. Second of all, while Luminar estimates its current TAM (total addressable market) is less than $5 billion, it could be worth more than $150 billion by 2030. “Assuming a ~4% vehicle penetration rate,” Perez notes, “Luminar anticipates it could generate revenues of approximately $5 billion with EBITDA margins of 50% by 2030.” Perez believes the company’s revenue streams are visible through 2025, based on the $1.3 billion it has already booked in customer backlogs, via its two main lidar products. The Hydra Lidar sensors are tailored for commercial trucks, can detect objects up to 500 meters away and expand the driver’s peripheral view, so that “truckers will be able to detect objects that are typically in their blind spots.” Whilst on the self-driving side, for driver-less last-mile delivery trucks and vehicles going back and forth between terminals, the system is vital and can bring down logistics costs by 25% to 30%. The second major lidar product is the Iris, which caters for the passenger vehicle market and can be seamlessly integrated into the roof of the car. Perez counts several benefits of using lidar in passenger vehicles which include “proactive safety, greater crash avoidance, improved driver assists in braking, lane-keeping assistance, and better visibility in inclement weather.” “Most important,” Perez said, “The LIDAR technology could help reduce the number of vehicle-related deaths.” Turning now to the rest of the Street, where Luminar has 4 additional Buy ratings and 1 Hold, all adding up to a Strong Buy consensus rating. At $37.2, the average price target is set to provide returns of ~25% over the next 12 months. (See LAZR stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
- InvestorPlace
If You Trust Growth Stocks, Luminar Is Worth a Nibble
Over the past 12 months, investor optimism toward electric and autonomous vehicles has expanded from manufacturers to suppliers. Among those suppliers, Luminar Technologies (NASDAQ:LAZR) stock has perhaps the most intriguing story. Source: Olivier Le Moal / Shutterstock.com To be sure, LAZR stock isn’t cheap. At a current price of $31, Luminar has a market capitalization over $10 billion. It’s certainly fair to ask if the stock should trade above $30 given that Luminar was willing to execute a merger at a price of $10 per share less than a year ago. That said, this has not been a market where valuation concerns have been paramount. That’s been doubly true for auto-tech names. Many companies that, like Luminar, went public via SPACs (special purpose acquisition companies) have seen their share prices move just as far, if not farther, from the merger price.InvestorPlace - Stock Market News, Stock Advice & Trading Tips From here, those valuation concerns shouldn’t be ignored. But investors who still see upside in the sector should have LAZR stock on their watchlist. The Case for LAZR Stock Autonomous vehicles are on the way. They may not arrive as fast as some believe, but they will arrive at some point. 9 Stocks That Investors Think Are the Next Amazon When that day comes, Luminar seems well-positioned to capitalize. The company is an early leader in lidar (light detection and ranging) technology. Most importantly, as management has detailed in the past, Luminar has a big edge: it’s built its system from the ground up. That’s a big competitive differentiator in the space. A lot of newer, supposedly high-tech companies, whether in autonomous or electric vehicles, have proven themselves to be not much more than assemblers. Nikola (NASDAQ:NKLA) has proven to be an example. That intellectual property gives Luminar an important head start — and prevents rivals from catching up. With 50 commercial partners already, including a number of OEMs (original equipment manufacturers), Luminar might well have the best chance of being the industry leader over the long haul. It’s not just autonomous vehicles, either. ADAS (advanced driver-assistance systems) represent a reasonably large market in the meantime. Right now, Luminar estimates its total addressable market at about $4 billion. According to the merger presentation, by 2030, thanks to ‘robotaxis,’, commercial vehicles, and ADAS, the company believes its total addressable market will reach $150 billion. Solid share of that market will make the current $10 billion market capitalization likely look cheap in retrospect. What Goes Wrong As always, there are risks. One key question is whether lidar indeed is the right technology. Certainly, OEM partners seem to think so. Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) unit Waymo has focused on the technology as well, even selling its own lidar sensors. But not everyone in the autonomous space agrees. The most notable dissenter is Tesla (NASDAQ:TSLA). Tesla chief executive officer Elon Musk famously said at his company’s 2019 Autonomy Day that “lidar is doomed.” For now, Musk essentially is on an island. But TSLA bulls, or simply those investors who believe in Musk’s genius, might want to look beyond LAZR stock. At the least, Luminar is highly unlikely to have Tesla as a customer any time soon, if ever. If lidar indeed is the future, there’s the competitive environment to consider. Again, Luminar does seem like the early leader, but there is no shortage of rivals. Waymo and General Motors (NYSE:GM) unit Cruise will have their say. Velodyne Lidar (NASDAQ:VLDR) just raised capital through its own SPAC merger. In the start-up world, there are “too many lidar companies,” as Wired put it a year ago. The rewards in LAZR stock could be enormous if lidar indeed is the right technology and if Luminar indeed becomes the industry leader. Neither is guaranteed. The Valuation Question Finally, there’s the question of how much of the potential reward has been eaten up by the stock’s 200%-plus rally since November. LAZR stock isn’t cheap. Indeed, using projections from the merger presentation, LAZR trades at nearly 30x estimated EBITDA (earnings before interest, taxes, depreciation and amortization) for 2025. Those projections hardly look conservative, with Luminar expecting revenue to rise 575% just between 2023 and 2025. If Luminar meets its projections, no doubt LAZR stock rises. But that’s true of just about every stock in the market. Some skepticism is warranted. As a result, it wouldn’t be surprising to see a further pullback in LAZR, which already has retreated from December highs above $45. That said, the valuation can work if the story plays out. It’s a bit too simplistic to argue that small market share can lead to big returns — because it’s not easy to get even small market share. But, back of the envelope, 10% market share at 2030 suggests revenue of $15 billion. Forty percent margins (equivalent to those projected in 2025) would get EBITDA to $6 billion. Again, that’s easier said than done. Competition may lead to sharply lower prices and sharply lower margins. Luminar may never gain much share at all. But in that back-of-the-envelope model, Luminar probably has a market capitalization exceeding $100 billion — which puts LAZR stock above $300. Few stocks have that kind of potential. On the date of publication, Vince Martin did not have (either directly or indirectly) any positions in the securities mentioned in this article. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post If You Trust Growth Stocks, Luminar Is Worth a Nibble appeared first on InvestorPlace.
- Yahoo Finance
Tesla stock is 'very fully priced,' says investing legend Byron Wien
Tesla shares look fully valued to investing legend Byron Wien of Blackstone. Here's what Wien told Yahoo Finance Live.
