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Even With This Drop Luminar Stock Is Astoundingly Overpriced
InvestorPlace
12/21/2020
Given the very high valuation of
Luminar (NASDAQ:
© Provided by InvestorPlace
A finger hovering over an autonomous drive button.
At this point, I recommend buying the shares of Luminar’s more attractive competitor,
Velodyne (NASDAQ:
VLDR), instead of LAZR stock.
Luminar has perhaps the highest valuation I’ve ever heard of for a company that’s already generating revenue; the shares are trading at 217 times the company’s own 2021 sales estimate.
Even based on Luminar’s likely very optimistic 2025 sales estimate of $537 million, which assumes that its revenue soars 55 times in just five years, the shares sport a hefty price-sales ratio of 10.5 times. And, despite these very high valuations, Luminar doesn’t expect to generate positive EBITDA until 2024. ....

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