Velodyne (VLDR), the analysts say, has had limited success in securing partnerships with players in the auto industry. Analysts have a December 2023 price target of $30 on the stock. Luminar currently trades at $9.52, after falling 44% this year. Mercedes-Benz, which recently partnered with Luminar, was the first automotive manufacturer to secure a Level 3 certification late last year.Ĭhatterjee forecasts $6 billion of revenue for Luminar and industry-leading profitability of close to $7.25 per share in 2030. There are five levels of driver-assistance technologies levels before the third are more dependent on human supervision. Chatterjee believes Luminar (ticker: LAZR) will exit 2030 with the strongest revenue among its peers given the company’s focus on so-called Level 3-plus applications. Morgan analysts have made their decision when it comes to the winner for the next decade. Lidar is particularly good at tracking objects a long distance away.ĭebate about what Lidar is best is rife within the automotive industry, but J.P. Both companies sell Lidar, or light detection and ranging technology, which auto makers use to give cars, essentially, the eyes they need for autonomous driving features. In a research note beginning coverage of the stocks, analyst Samik Chatterjee and his team rated Luminar at Overweight, equivalent to a Buy rating, giving Velodyne shares a rating of Underweight, or Sell. Here, a photo of a Luminar Lidar-based sensor on a test vehicle. Luminar's stock is forecast to reach $30 by December 2023. Both companies sell Lidar, or light detection and ranging technology, which auto makers use to give cars, essentially, the eyes. The autonomous vehicle tech firm Luminar Technologies will likely be the largest pure-play supplier of radar for self-driving cars, while Velodyne Lidar may miss out, analysts at J.P.
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