![]() ![]() That changed last night, though, when dug into the analyst's report and confirmed that Lafferty is predicting Luminar lidar technology will begin appearing in cars manufactured by Volvo and Daimler as early as next year - a development that could balloon the company's current annual revenue stream of just $17 million. ORLANDO, Fla., August 08, 2022-Luminar (NASDAQ: LAZR), a leading global automotive technology company, announced its quarterly business update and financial results for the second quarter of 2022. Luminar Technologies (NASDAQ: LAZR), a company that specializes in lidar technology used in self-driving vehicles, has seen its stock rally by about 15 since early January. Possibly this was because Lafferty isn't an analyst with huge name recognition - but there also wasn't a whole lot of detail available on why Lafferty upgraded the stock to begin with. Stock Symbol NASDAQ:LAZR Company Type For Profit Contact Email Luminar is an autonomous vehicle sensor and software company with the vision to make autonomy safe and ubiquitous by delivering the only lidar and associated software that meets the industry’s stringent performance, safety, and economic requirements. Luminar's stock didn't move much on the news, however (actually, the share price dropped by nearly a dollar). ![]() Lafferty initiated coverage of Luminar stock with a buy rating and a $38 price target. Curiously, though, the catalyst for this stock move appears to have happened nearly a week ago. Shares of Luminar Technologies ( LAZR -2.73%), which makes lidar technology for self-driving cars, are on a tear Wednesday afternoon, rising more than 12% through 1:20 p.m. ![]()
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