12/20/2023 0 Comments Velodyne lidar vs luminarShares of Innoviz ( INVZ) +10.65% and Luminar Technologies ( LAZR) +6.97% rose sharply on Tuesday, while both Cepton ( CPTN) and Velodyne ( VLDR) saw modest declines. Additionally, the expectation of capital raises ahead add to risks and motivate a more cautious stance on the stock.įinally, Velodyne ( VLDR) was assigned an “Underweight” rating due to its “limited success in autos” and ongoing efforts to “right-size operations for the limited success it has had in series production wins with auto OEMs to date.” Overall, Chatterjee expects Velodyne ( VLDR) to be “the laggard” amongst its peer group. Chatterjee added that Luminar is the only company in its peer group that he does not expect to require incremental capital raises.Īs for Cepton ( CPTN), Chatterjee noted that the “sustainability of growth as 元 applications take center stage” provides for some uncertainty in coming years. Luminar ( LAZR), meanwhile, sets itself apart via its focus on 元+ applications that should help the company “exit the decade with the strongest revenue amongst the peer group despite a smaller order book relative to Innoviz currently,” in his view. “We expect the combination of numerous wins, large volume wins, balance of LiDAR costs and performance and ability to support highway autonomy at high speeds to position Innoviz to ramp revenues well into the end of the decade, while cost discipline should drive profitability,” Chatterjee wrote. He explained that Innoviz ( INVZ) is particularly underappreciated as its industry-leading order book and “compelling margins” add to its observable ramp in revenue. Meanwhile, Cepton ( NASDAQ: CPTN) and Velodyne Lidar ( NASDAQ: VLDR) were rated at Hold and Sell-equivalent ratings, respectively. In terms of top picks, Chatterjee selected Innoviz ( NASDAQ: INVZ) and Luminar ( NASDAQ: LAZR) as the best options for investors at present. See our analysis below of how Luminar compares to Velodyne, a company that has focused on lidar for lower volume applications. “However, debates remain rife in relation to the winning technology approach in LiDAR, the differentiation between players and the recipe for success as automakers pursue a multi-pronged strategy of preparing some vehicle platforms for L2 functionalities while some OEMs look to leap frog to 元+ with some other developments.” “We believe the debate around value-add of a LiDAR in a sensing suite has been long settled, with decisions to exclude LiDARs largely a cost-based decision rather than performance,” he wrote. JP Morgan analyst Samik Chatterjee told clients that while opportunity is likely to abound in LiDAR technologies in coming years, stockpicking remains paramount in the sector.
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