The latest trading session saw Luminar Technologies, Inc. (LAZR) ending at $0.79, denoting a -0.03% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 1.7% for the day. On the other hand, the Dow registered a gain of 1.26%, and the technology-centric Nasdaq increased by 2.51%.

The the stock of company has fallen by 18.92% in the past month, lagging the Auto-Tires-Trucks sector's gain of 2.47% and the S&P 500's gain of 1.27%.

Market participants will be closely following the financial results of Luminar Technologies, Inc. in its upcoming release. On that day, Luminar Technologies, Inc. is projected to report earnings of -$0.16 per share, which would represent year-over-year growth of 23.81%. Simultaneously, our latest consensus estimate expects the revenue to be $18.23 million, showing a 7.49% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.60 per share and revenue of $80.85 million, which would represent changes of +31.03% and +15.86%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Luminar Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an 8% increase. Luminar Technologies, Inc. presently features a Zacks Rank of #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 166, positioning it in the bottom 35% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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