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Goldman Sachs says this self-driving car software stock could fall 35%

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Analyst Mark Delaney downgraded the tech company to sell from neutral, saying it has a premium valuation and will face greater margin pressure.

Luminar Technologies shares are too expensive at current valuations and could fall 35%, Goldman Sachs said. Analyst Mark Delaney downgraded the tech company to sell from neutral, saying the developer of vision-based lidar and machine perception technologies for self-driving cars has a premium valuation and will face greater margin pressure.

mountain Luminar Technologies shares 1-day The higher selling price could hurt the stock as Luminar faces stiff competition in the autonomous vehicle sector, meaning that the company could miss its own gross margin targets, according to the analyst.

 

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