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Investing.com - Cantor Fitzgerald has reiterated its Neutral rating and $3.00 price target on Lucid Group Inc . (NASDAQ:LCID) ahead of the company’s second-quarter earnings report scheduled for August 5. According to InvestingPro data, Lucid currently maintains a market capitalization of $7.42 billion, with revenue growth of 40.67% over the last twelve months to $870.14 million.
Lucid delivered 3,309 vehicles in the second quarter, falling short of analyst estimates of 3,791 vehicles and consensus expectations of 3,611 vehicles, though exceeding the 2,394 deliveries reported in the same period last year.
The electric vehicle manufacturer also pre-announced production of 3,863 vehicles for the quarter, below analyst and consensus estimates of 4,000 and 4,305 vehicles respectively, but higher than the 2,110 vehicles produced in the second quarter of 2024.
Gross margins remain a key focus area for investors, with sell-side consensus expecting negative gross margins of approximately 95% for the second quarter as Lucid continues to work on improving its financial performance.
The upcoming earnings call will likely address initial sales figures for the recently launched Gravity SUV, progress on the company’s planned midsize SUV targeted for late-2026 production, details on Lucid’s new robotaxi partnership with Uber (NYSE:UBER) and Nuro, and potential revisions to the company’s annual production guidance, which currently stands at 20,000 vehicles for fiscal year 2025. While the company maintains a healthy current ratio of 3.32, InvestingPro’s Fair Value analysis suggests the stock is currently fairly valued. Get the complete financial picture with InvestingPro’s comprehensive research report, available along with real-time metrics and analysis for over 1,400 US stocks.
In other recent news, Lucid Group Inc. announced a strategic partnership with Uber and Nuro, Inc. to launch a next-generation autonomous robotaxi program exclusively for the Uber platform. This collaboration will involve deploying 20,000 Lucid Gravity SUVs equipped with Nuro Driver autonomous technology over a six-year period, with the first vehicles expected to launch in 2026. Benchmark has responded to this development by raising its price target for Lucid to $7.00, maintaining a Buy rating. Meanwhile, Stifel reiterated a Hold rating with a $3.00 price target, and Cantor Fitzgerald maintained its Neutral rating and $3.00 price target.
Additionally, Lucid announced that all Lucid Air models will gain access to Tesla (NASDAQ:TSLA)’s Supercharger network starting July 31, 2025, through a Lucid-approved adapter. The adapter will be priced at $220 and will allow charging at rates up to 50 kW, providing up to 200 miles of range per hour. Owners will manage charging via the Lucid App, using a credit card saved to their Lucid Wallet. These recent developments highlight Lucid’s strategic moves in expanding its partnerships and enhancing its vehicle capabilities.
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