Overall, given the drastic downgrade to this year's forecasts, we'd be feeling a little more wary of Luminar Technologies going forwards. They're also forecasting more rapid revenue growth than the wider market. The clear low-light was that analysts slashing their revenue forecasts for Luminar Technologies this year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Luminar Technologies to grow faster than the wider industry. Compare this with other companies in the same industry, which are forecast to grow their revenue 15% annually. It's clear from the latest estimates that Luminar Technologies' rate of growth is expected to accelerate meaningfully, with the forecast 126% annualised revenue growth to the end of 2023 noticeably faster than its historical growth of 43% p.a. Of course, another way to look at these forecasts is to place them into context against the industry itself. With this in mind, we wouldn't rely too heavily on the consensus price target, as it is just an average and analysts clearly have some deeply divergent views on the business. With such a wide range in price targets, the analysts are almost certainly betting on widely diverse outcomes for the underlying business. There are some variant perceptions on Luminar Technologies, with the most bullish analyst valuing it at US$24.00 and the most bearish at US$5.00 per share. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself.There was no particular change to the consensus price target of US$13.42, with Luminar Technologies' latest outlook seemingly not enough to result in a change of valuation. Simply Wall St has no position in any stocks mentioned. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. We aim to bring you long-term focused analysis driven by fundamental data. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. This article by Simply Wall St is general in nature. Alternatively, email editorial-team (at). Have feedback on this article? Concerned about the content? Get in touch with us directly. Need some more information? At least one of Luminar Technologies' twelve analysts has provided estimates out to 2025, which can be seen for free on our platform here.Īnother way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying. There was no particular change to the consensus price target of US$13.42, with Luminar Technologies' latest outlook seemingly not enough to result in a change of valuation.
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