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Luminar Technologies (LAZR) Gets a Buy Rating from R.F. Lafferty

In a report released today, Jaime Perez from R.F. Lafferty maintained a Buy rating on Luminar Technologies (LAZRResearch Report), with a price target of $37.00. The company’s shares closed last Tuesday at $15.17.

According to TipRanks.com, Perez ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -6.4% and a 32.8% success rate. Perez covers the Industrial Goods sector, focusing on stocks such as Propetro Holding, Workhorse Group, and PBF Logistics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Luminar Technologies with a $25.88 average price target, implying a 76.4% upside from current levels. In a report released yesterday, Deutsche Bank also maintained a Buy rating on the stock with a $23.00 price target.

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Based on Luminar Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $7.98 million and GAAP net loss of $51.34 million. In comparison, last year the company earned revenue of $4.22 million and had a GAAP net loss of $31.21 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LAZR in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Gores Metropoulos, Inc. operates as a blank check company, which engages in the provision of merger, capital stock exchange, asset acquisition, stock purchase, reorganization and similar business combination with one or more businesses. The company was founded on August 28, 2018 and is headquartered in Beverly Hills, CA.

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