The expectation is for Lucid to see 260% revenue growth next year as FY 2023 will be a crucial year for the company regarding its production ramp. The longer-term revenue outlook is also very positive as analysts see Lucid increase its revenue potential to $18.1B by FY 2027, showing a 25-fold increase over FY 2022.
Lucid, which has the backing of Saudi Arabia's sovereign wealth fund, has $4.9 billion in cash, enough to survive at least through the first quarter of 2024, the company said in an earnings report on Wednesday.
Many Lucid Group (NASDAQ:LCID) stock investors are underwater now, but they shouldn't lose hope. A share-price recovery is likely, as the market has already punished Lucid for its lackluster 2022 performance.
Lucid expects its growth to accelerate in 2023
After initially claiming it could produce 20,000 vehicles for the full year, it reduced its forecast to 12,000 to 14,000 last February, then halved that target to just 6,000 to 7,000 vehicles last August.
“Bearish Scenario: If Lucid faces significant competition in the EV market or struggles to achieve its growth targets, LCID stock could potentially trade within the range of $50-$100 by 2030.”
That's an almost 18% drop in reservations in just three months. Lucid is evidently facing two problems: cancellation of reservations and fewer new orders because of long wait times. To top that, Lucid said it ended 2022 with only $1.7 billion in cash and equivalents versus $6.3 billion as of the end of 2021.
On our 1000-mile loop meant to measure the current state of EV interstate travel, the Lucid won by a big margin. But its victory didn't come without drama. From the September 2022 issue of Car and Driver.
The Lucid Air outperforms the Tesla Model S in available options for maximum range on a single charge. Lucid offers up to 516 miles, nearly 30-percent more than Tesla's highest range of 405 miles. Lucid's lowest option is also greater than Tesla's lowest option: 410 miles to Tesla's 396 miles.
Lucid: Burn Rate Under Control; Profits Possible By 2025 (NASDAQ:LCID) | Seeking Alpha.
Lucid Motors could be the next big electric vehicle maker overseas according to many industry analysts, however it currently has no plans to sell cars in Australia. Founded in 2007 and based in California, the start-up began the first customer deliveries of its debut sedan – known as the 'Air' – early last month.
LCID stock technical analysis
Nevertheless, Wall Street analysts have given the EV a consensus 'buy' rating from 10 analysts based on its performance over the past three months. In total, four experts advocated for a 'strong buy,' 5 for a 'hold,' and 1 was a 'strong sell.
Lucid Stock Buy Hold or Sell Recommendation. Stocks . USA . Given the investment horizon of 90 days and your above-average risk tolerance, our recommendation regarding Lucid Group is 'Hold'.
Owners of Lucid Motors and Rivian EVs have reported problems with their vehicles, both to NHTSA as well as online in owners' forums. The problems range from seats that move on their own to complete bricking. Despite the problems, most owners express positive experiences with their vehicles—when they work correctly.
Compared to the current market price of 7.73 USD, Lucid Group Inc is Overvalued by 38%.
The 8 analysts offering 12-month price forecasts for Lucid Group Inc have a median target of 10.50, with a high estimate of 16.00 and a low estimate of 5.00. The median estimate represents a +42.08% increase from the last price of 7.39.
That's a conservative one-fourth of what the price would have been for a price-to-sales ratio of 25, which is the ratio Tesla sports right now. If that happens, an amount of $250,000 invested in Lucid stock today could generate a million dollars for you in 10 years, or possibly less.
By the end of the run the Lucid was traveling at 156 mph (251 km/h), while the Tesla reached 152 mph (244.6 km/h). The Bugatti was clearly already quicker by the time they crossed the line, traveling at 156 mph.
Lucid Group, Inc. is an American electric vehicle manufacturer headquartered in Newark, California. The Lucid vehicles are designed in California and manufactured at Lucid's factory in Arizona. The company was founded in 2007.
Lucid Group (NASDAQ: LCID) is owned by 72.36% institutional shareholders, 117.57% Lucid Group insiders, and 0.00% retail investors. Public Investment Fund is the largest individual Lucid Group shareholder, owning 1.11B shares representing 60.59% of the company.
Lucid long term debt for 2022 was $2.073B, a 4.03% increase from 2021. Lucid long term debt for 2021 was $1.993B, a INF% increase from 2020.
The expectation is for Lucid to see 260% revenue growth next year as FY 2023 will be a crucial year for the company regarding its production ramp. The longer-term revenue outlook is also very positive as analysts see Lucid increase its revenue potential to $18.1B by FY 2027, showing a 25-fold increase over FY 2022.
At the end of the third quarter, Lucid was still sitting on $3.85 billion in cash, cash equivalents, and investments. It predicted that liquidity would last until "at least" the fourth quarter of 2023, but analysts still expect Lucid to post steep net losses of $1.7 billion in 2022 and $2.1 billion in 2023.