Luminar Technologies, Inc.'s (NASDAQ:LAZR) 32% Cheaper Price Remains In Tune With Revenues
Luminar Technologies, Inc.'s (NASDAQ:LAZR) 32% Cheaper Price Remains In Tune With Revenues
Unfortunately for some shareholders, the Luminar Technologies, Inc. (NASDAQ:LAZR) share price has dived 32% in the last thirty days, prolonging recent pain. The recent drop completes a disastrous twelve months for shareholders, who are sitting on a 78% loss during that time.
In spite of the heavy fall in price, you could still be forgiven for thinking Luminar Technologies is a stock to steer clear of with a price-to-sales ratios (or "P/S") of 7.9x, considering almost half the companies in the United States' Auto Components industry have P/S ratios below 0.8x. Although, it's not wise to just take the P/S at face value as there may be an explanation why it's so lofty.
What Does Luminar Technologies' Recent Performance Look Like?
Luminar Technologies certainly has been doing a good job lately as it's been growing revenue more than most other companies. The P/S is probably high because investors think this strong revenue performance will continue. If not, then existing shareholders might be a little nervous about the viability of the share price.
Want the full picture on analyst estimates for the company? Then our free report on Luminar Technologies will help you uncover what's on the horizon.Is There Enough Revenue Growth Forecasted For Luminar Technologies?
There's an inherent assumption that a company should far outperform the industry for P/S ratios like Luminar Technologies' to be considered reasonable.
Taking a look back first, we see that the company grew revenue by an impressive 71% last year. The latest three year period has also seen an incredible overall rise in revenue, aided by its incredible short-term performance. So we can start by confirming that the company has done a tremendous job of growing revenue over that time.
Turning to the outlook, the next three years should generate growth of 113% each year as estimated by the eleven analysts watching the company. With the industry only predicted to deliver 15% per annum, the company is positioned for a stronger revenue result.
With this information, we can see why Luminar Technologies is trading at such a high P/S compared to the industry. It seems most investors are expecting this strong future growth and are willing to pay more for the stock.
The Key Takeaway
Even after such a strong price drop, Luminar Technologies' P/S still exceeds the industry median significantly. Typically, we'd caution against reading too much into price-to-sales ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
We've established that Luminar Technologies maintains its high P/S on the strength of its forecasted revenue growth being higher than the the rest of the Auto Components industry, as expected. At this stage investors feel the potential for a deterioration in revenues is quite remote, justifying the elevated P/S ratio. Unless the analysts have really missed the mark, these strong revenue forecasts should keep the share price buoyant.
It is also worth noting that we have found 4 warning signs for Luminar Technologies that you need to take into consideration.
If companies with solid past earnings growth is up your alley, you may wish to see this free collection of other companies with strong earnings growth and low P/E ratios.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對於一些股東來說,不幸的是,Luminar Technologies, Inc.(納斯達克股票代碼:LAZR)的股價在過去三十天中下跌了32%,延續了最近的痛苦。對於股東來說,最近的下跌結束了災難性的十二個月,在此期間,他們的虧損率爲78%。
儘管價格大幅下跌,但你認爲Luminar Technologies是一隻值得避開的股票,其市銷率(或 “市盈率”)爲7.9倍,這是可以原諒的,因爲美國汽車零部件行業中將近一半的公司的市盈率低於0.8倍。但是,僅按面值計算市銷率是不明智的,因爲可以解釋其爲何如此之高。
Luminar Technologies最近的表現如何?
Luminar Technologies最近確實做得很好,因爲它的收入增長幅度超過了大多數其他公司。市銷率可能很高,因爲投資者認爲這種強勁的收入表現將繼續下去。如果不是,那麼現有股東可能會對股價的可行性有些緊張。
想全面了解分析師對公司的估計嗎?然後,我們關於Luminar Technologies的免費報告將幫助您發現即將發生的事情。預計Luminar Technologies的收入增長是否足夠?
人們固有的假設是,如果像Luminar Technologies這樣的市銷率被認爲是合理的,公司的表現應該遠遠超過該行業。
首先回顧一下,我們發現該公司去年的收入增長了令人印象深刻的71%。得益於其令人難以置信的短期表現,最近三年的總體收入也實現了令人難以置信的增長。因此,我們可以首先確認該公司在這段時間內在增加收入方面做得非常出色。
展望來看,根據關注該公司的11位分析師的估計,未來三年每年將實現113%的增長。由於該行業的年增長率預計僅爲15%,因此該公司有望實現更強勁的收入業績。
有了這些信息,我們可以了解Luminar Technologies爲何與行業相比市銷率如此之高。看來大多數投資者都在期待這種強勁的未來增長,並願意爲該股支付更多費用。
關鍵要點
即使在價格下跌如此強勁之後,Luminar Technologies的市銷率仍大大超過行業中位數。通常,在做出投資決策時,我們謹慎行事,不要過多地考慮市售比率,儘管這可以揭示其他市場參與者對公司的看法。
我們已經確定,Luminar Technologies之所以保持較高的市銷率,是因爲其預測的收入增長如預期的那樣高於汽車零部件行業的其他部門。在現階段,投資者認爲收入惡化的可能性微乎其微,這證明市銷售率上升是合理的。除非分析師真的沒有達到目標,否則這些強勁的收入預測應該會保持股價的上漲。
還值得注意的是,我們已經發現了Luminar Technologies的4個警告信號,你需要考慮這些信號。
如果過去盈利增長穩健的公司處於困境,那麼你可能希望看到這些盈利增長強勁、市盈率低的其他公司的免費集合。
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。
譯文內容由第三人軟體翻譯。
風險及免責聲明
- 分享到weixin
- 分享到qq
- 分享到facebook
- 分享到twitter
- 分享到微博
- 粘贴板
使用瀏覽器的分享功能,分享給你的好友吧