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#Luminar stock ipo series#
Luminar currently has series production contracts on passenger vehicles with Volvo and SAIC, a strategic agreement on trucking/logistics with Daimler Truck/Torc, and a sales agreement for LIDAR into robo-taxi AV solutions with Mobileye, the analysts noted.īofA said Luminar's commercial partnerships could give it a competitive advantage in the rapidly-growing lidar market, but added that the future successes for Luminar are somewhat unclear, as the company doesn't plan to start production until the end of next year. However, BofA sees upside for Luminar in the next 12 months, especially because of the company's promising partnerships with major auto companies. Luminar's stock price soared 110% to over $47 in the first three days following its public debut back in December, but has fallen significantly since then. (Nasdaq: LAZR) announced it will be standard on Volvo Cars’ forthcoming fully electric flagship vehicle, helping the automaker to save even more lives as it sets a new benchmark for automotive safety.
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Palo Alto, CA JToday, Luminar Technologies, Inc. Luminar represents a rare opportunity to invest in the. Luminar to be Standardized on Next Generation Volvo. Luminar Technologies uses laser sensors, called lidar, that enable autonomous driving. Based on the consensus CY/2023 revenue growth estimate of about 198 for Luminar, the stock should trade closer to an EV/’23 sales ratio of 24.7x (currently 60x). It raised 375 million in its January 2019 IPO by offering 37.5 million shares at a 10 offer price.
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On Tuesday a team of analysts led by Aileen Smith initiated coverage of the autonomous vehicle technology company with a "neutral" rating and $23 price target, a roughly 40% gain from current levels. Luminar Technologies appears to be a leader in next-generation commercial lidar technology as evidenced by its automotive partnerships, according to Bank of America.