That could happen if other companies follow Tesla’s lead in avoiding lidar technology. Any avoidance of lidar technology could be deleterious for LAZR stock. Investors in LAZR stock should take this into consideration. He said that lidar technology is a “crutch” and cameras will allow their cars to see through even adverse weather situations. Tesla’s EVs rely on cameras and other detection technology such as radar, GPS, maps and ultrasonic technology. Lidar, which stands for “ light detection and radar,” uses a laser to detect distance by measuring the laser light reflected off of objects.Įlon Musk says it is too expensive and unnecessary. It might surprise you to know that Tesla (NASDAQ: TSLA), the preeminent electric vehicle (EV) and autonomous driving company, does not use Lidar. Compare that to Luminar’s $15.2 revenue forecast. But Velodyne Lidar will make $101 million in revenue this year. VLDR stock has a market cap of just $3.39 billion, which is less than half of LAZR stock. Moreover, if we compare this with a similar company, Velodyne Lidar (NASDAQ: VLDR), the LAZR stock valuation seems absurd.ħ Undervalued Stocks That Could Soar in 2021 That compares with forecast sales of just $25.75 million in 2021. So at this level for price-to-sales, the valuation is simply out-of-control.įor example, Luminar Technologies has a market capitalization of almost $9 billion. This number would too high even for a price-to-earnings (P/E) ratio.
Even for 2021, when revenues are forecast at $25.75 million, the stock is at 348 times revenue. Nevertheless, LAZR stock trades for 588 times its forecast revenue of $15.2 million in 2020.
This followed nearly two years of working together at the development stage. Moreover, recently Mobileye, an Intel (NASDAQ: INTC) company that specializes in assisted driving technology, clarified details of a deal they announced on Nov.
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