Luminar Technologies, Inc. (LAZR) ended the recent trading session at $0.89, demonstrating a +0.87% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.96%. On the other hand, the Dow registered a loss of 0.94%, and the technology-centric Nasdaq decreased by 1.18%.

The company's stock has climbed by 10.9% in the past month, exceeding the Auto-Tires-Trucks sector's gain of 7.24% and the S&P 500's gain of 4.3%.

Analysts and investors alike will be keeping a close eye on the performance of Luminar Technologies, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.19, marking a 9.52% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $18.23 million, up 7.49% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of -$0.64 per share and a revenue of $80.85 million, demonstrating changes of +26.44% and +15.86%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Luminar Technologies, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3% 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. This industry, currently bearing a Zacks Industry Rank of 144, finds itself in the bottom 43% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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