Luminar Technologies, Inc. (LAZR) closed at $0.81 in the latest trading session, marking a -0.65% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.05% for the day. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.18%.

Prior to today's trading, shares of the company had gained 5.03% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 8.62% and the S&P 500's gain of 2.76% in that time.

The investment community will be closely monitoring the performance of Luminar Technologies, Inc. in its forthcoming earnings report. On that day, Luminar Technologies, Inc. is projected to report earnings of -$0.19 per share, which would represent year-over-year growth of 9.52%. Meanwhile, our latest consensus estimate is calling for revenue of $18.23 million, up 7.49% from the prior-year quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.64 per share and a revenue of $80.85 million, signifying shifts of +26.44% and +15.86%, respectively, from the last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Luminar Technologies, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Luminar Technologies, Inc. is currently a Zacks Rank #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Luminar Technologies, Inc. (LAZR) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research