The firm earned $257.71 million during the quarter, compared to analysts' expectations of $289.80 million. With a capacity to manufacture 155,000 EV units, this world-class facility would be built through financial support and incentives up to $3.4bn over the next 15 years, backed by the government of Saudi Arabia. The company is scheduled to release its next quarterly earnings announcement on Monday, May 8th 2023. Is SoFi Stock a Buy Now? That's an improvement of 6/17 mpg-e city/highway over the 405-mile, 100-kWh Tesla Model S Long Range. What is Lucid Group's stock price forecast for 2023? Lucid Group (NASDAQ:LCID) is moving higher day by day as its production of electric vehicles (EVs) out of its Casa Grande, AZ plant ramps up. Top institutional investors include Simplex Trading LLC (0.00%), Sumitomo Mitsui Trust Holdings Inc. (0.07%), IMC Chicago LLC (0.00%), SG Americas Securities LLC (0.04%), State of New Jersey Common Pension Fund D (0.02%) and abrdn plc (0.02%). Tesla stock is trading at just 11.9x. Lucid Group's stock was trading at $6.83 at the beginning of 2023. Management recently reported that the company has received more than 9,000 reservations for the Lucid Air, and it expects to deliver about 1,000 units of the luxury sedan to customers in North America by the end of the year; deliveries to customers in international markets will commence in 2022. According to Wallet Investor, Lucid Group stock could be in the range of $57.511 to $58.461 by January 2027. Lucid wants to massively expand globally and could be in line for a great short squeeze soon. Should You Be Too? The three analysts who have offered 12-month price forecasts for Lucid Group Inc. have a median target of 57.00, with a maximum estimate of 60.00 and a minimum estimate of 16.00. What will lucid stock be worth in 5 years. But last November, it said its number of reservations had surpassed 17,000, up from 13,000 at the end of September. Price as of April 28, 2023, 4:00 p.m. For one, itll be standing alone as the de facto brand of luxury EVs above Tesla, Audi and Porsche (POAHY). Always do your own research. I wrote this article myself, and it expresses my own opinions. The Final Word on Lucid It might not get there in 2021, but that price milestone looks attainable in one or two years from now . And by the end of 2020, Tesla was worth $650 billion. However, Tesla also enjoyed a first-mover's advantage in the EV market, and it expanded its mainstream appeal by gradually rolling out lower-priced models. Whether you should invest in the Lucid stock market depends on your personal investing goals and portfolio composition. (from Lucid's FQ3'21 10-Q). Now we're planning as a default to do that in-house, and we're building the team. The Final Word on Lucid. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. However, analysts forecasts can be wrong and have been inaccurate in the past. Up or down, all other EV stocks followed suit. With projected Air deliveries rising to 36,000 and Project Gravity deliveries of 12,000, Lucid expects to sell about 48,000 vehicles in 2023. A high valuation at $14.3 billion is not worth the risk of failing to . Given the company's long-term earnings growth potential, Lucid Motors is worth about $100 billion today. Rivian Stock Price Prediction 2025 | What To Expect? We have no experience to date in high volume manufacture of our vehicles. Different trading strategies will suit different investment goals with short or long-term focus. And by the end of 2020, Tesla was worth $650 billion. That would represent an incredible 49.5% CAGR over eight years. Since the start of this year, Lucid stock has plummeted by nearly 55% from $40.93 to its last close price of $18.96 on 8 June 2022. Lucid is entering the saturated EV market at a much higher price point than Tesla, so its total addressable market could actually be much smaller. I currently hold the rank of Major. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. quotes delayed at least 15 minutes, all others at least 20 minutes. Over the next three to five years, Lucid stock will meaningfully outperform TSLA from current levels. You're reading a free article with opinions that may differ from The . When can I buy Lucid Motors stock? The latest Lucid stock news is that it is looking to branch out into European markets. Lucid Group Delivers 1,406 Vehicles In Q1, view top-rated stocks among Wall Street analysts, Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV), First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN), iShares Self-Driving EV and Tech ETF (IDRV), Global X Lithium & Battery Tech ETF (LIT), Fidelity Electric Vehicles and Future Transportation ETF (FDRV), 640 FIFTH AVENUE 12TH FLOOR, NEW YORK NY, 10019. Data source: S&P Capital IQ. The star figured prominently in the Dominion lawsuit. Lucid believes it can generate approximately $2.2 billion in revenue this year by shipping 20,000 vehicles. Lucid Motors will be selling hundreds of thousands of cars a year, at super-high price points, with extremely favorable margins. To put this in perspective, consider that over the past five years, Tesla has reported an average gross margin of 19.7%. Why Is SoFi Stock Down After Earnings? Moreover, NIO (NIO) and XPeng (XPEV) stock are trading at 4.2x and 4.4x, respectively. However, we aren't convinced yet. Lucid is struggling to scale even after numerous cuts to guidance through 2022, with Q1 deliveries dipping nearly 34% q/q. But, we will probably only have a better idea over the next five years. I am not receiving compensation for it (other than from Seeking Alpha). The young company isn't yet profitable and is still in the early days of generating revenue. The stock price is great, House said in an interview with CNBC. (1.25%) $4.08. The long-term earning potential is +7.44% in one year. The firm designs, creates and builds energy storage systems for electric vehicles and supplies other automakers with the vehicle platform needed to power plug-in, hybrid and electric vehicles. On 26 April, the EV maker reported a formal pledge undertaken by the Saudi Arabian government to purchase Lucid Air and future models, with an initial commitment to purchase 50,000 vehicles and an option for another 50,000. Lucid at current prices sports a $16 billion market cap, against trailing 12 month losses of around $1.9 billion, and a tangible book value of $3.2 billion. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Past performance is no guarantee of future results. Now, the tough part comes as it begins volume production and schedule for deliveries. Another EV Start-up Has Cash, Production Problems. Buying $100 In MRNA: If an investor had bought $100 of MRNA stock 5 years ago, it would be worth $702.80 today based on a price of $130.72 for MRNA at the time of writing. If it takes a couple of days for a model to train. We believe ramping up production will be Lucid's most challenging endeavor. Lucid stock price . The company has not remained immune to broader issues affecting the automobile industry, such as supply chain issues and Covid-related factory shutdowns in China. Lucid IPO took place on July 26, 2021, priced at $15 a share, raising $4.5 billion and valuing the company at $24 billion. Elon Musk mentioned recently that he considers his Chinese EV peers as Tesla's strongest competitors. In five years, heres where we see Lucid Motors within the broad context of the EV industry. The long-term earning potential for investors is +7.44% per year. This estimate is a 105.85% increase from the current price of 18.89. Lucid Group has received a consensus rating of Hold. This is a big win for Lucid. The company produces this post-luxury vehicle at the company's Greenfield electric vehicle manufacturing facility in Casa Grande, Arizona. According to analysts' consensus price target of $10.58, Lucid Group has a forecasted upside of 44.6% from its current price of $7.32. Making the world smarter, happier, and richer. The Value Of Lucid Can Reach $127 USD In The Next 5 Years. Find the latest Lucid Group, Inc. (LCID) stock quote, history, news and other vital information to help you with your stock trading and investing. (from Herbert Diess LinkedIn post), Recently, Tesla also unveiled its AI training chip at its AI day in August. And as a tech company, it's our technology, which we are confident will put us in this preeminent position. Giga Shanghai has played a critical role in Tesla's global expansion plans. For years, EV stocks followed TSLA wherever it went. Therefore, we rate LCID stock at Neutral for now. Both models tied in terms of pricing and value, interior and tech. Lucid (LCID) to Report Q1 Earnings: What's in the Offing? Scott Levine has no position in any of the stocks mentioned. The outlook for the future price of Lucid stock is positive, with the company having made $24 billion in earnings and consistently increasing revenue in the past year. Second, even if the company successfully continues to scale up at a healthy clip, reaching profitability could remain elusive in the years ahead. Lucid Group does not currently pay a dividend. However, merely hitting current expectations may be tough to achieve. Shares of electric-vehicle maker Lucid Group (NASDAQ:LCID) opened sharply lower on Monday after the company disclosed in a regulatory filing that it received a subpoena for documents from the U.S. Securities and Exchange Commission (SEC). (from Lucid's FQ3'21 earnings call). We've got a Casa Grande capacity planned out to 365,000 units. Therefore, investors should expect Lucid to remain unprofitable as its debt levels climb over the next few years. I wrote this article myself, and it expresses my own opinions. The company designs, manufactures and supplies battery packs for gen2 Formula E race teams for the 2018-2019 season through the 2021-2022 season. Lucid Motors is expected to begin trading on July 23 according to a recent filing once it has completed its merger with Churchill Capital Corp. For now, you can buy CCIV shares, which will be converted to 'LCID' shares after the merger. I was the Battalion Second-in-command of an Armored Regiment. And thats great news for other companies but not for Tesla. It was the 2022 Motor Trend Car of the Year, regarded as one of the most prestigious awards in the automotive industry. You have already added five stocks to your watchlist. To make the world smarter, happier, and richer. See:https://seekingalpha.com/who-to-follow, JR Research was featured as one of Seeking Alpha's leading contributors in 2022. Despite Its Falling 92%, Cathie Wood Is Buying More of This Growth Stock. Lucid Group, Inc. (NASDAQ:LCID) has claimed the throne as the new "range king" in the US electric vehicles (EV) market. (from Lucid's FQ3'21 earnings call). It expects AMP-1's Phase 2 expansion, which recently started, to increase that capacity to 90,000 vehicles in 2023. Lucid Group, Inc. ( NASDAQ: LCID) announced an $8 billion universal shelf prospectus filing on Monday (August 29 th) after market close. It expects its annual shipments to nearly double to 500,000 by 2030. Lucid Group's mailing address is 640 FIFTH AVENUE 12TH FLOOR, NEW YORK NY, 10019. Lucid Group, Inc. (NASDAQ:LCID) posted its quarterly earnings data on Wednesday, February, 22nd. Lucid Motors (LCID) is one of my favorite EV stocks in the game. The Motley Fool has a disclosure policy. I am not receiving compensation for it (other than from Seeking Alpha). In 2021, the fund committed to purchasing at least 50,000 electric vehicles and up to 100,000 electric cars from Lucid Motors over ten years. Readers can easily observe the scale of Tesla's automotive gross margins (ex-credits) at an annualized run rate of 1M. Long-term, shares could soar to . Therefore, optimism surrounding LCID stock is expected. We believe that Lucid is still very early in its EV market opportunity, even though it seems like a latecomer. If that sounds like a big deal, its because itis. By January 2027, 5 years from now, Wallet Investor's projected stock price for LCID was in the range of $57.511 to $58.461. Therefore, we think Lucid investors must consider and monitor the company's progress in software very carefully against tough competition. Itay Michaeli, from Citi Group, set a $57 price target on LCID stock . Your current $100 investment may be up to $468.09 in 2027. Forecast target price for 05-05-2023: $ 8.21. That growth trajectory would be comparable to Tesla's. Should I buy or sell Lucid Group stock right now? For one, while production may be set to ramp up, its unclear whether there is sufficient demand for Lucid to sell into. In February 2022, Lucid announced plans to construct a new manufacturing plant in Saudi Arabia to produce 150,000 vehicles annually. It is anticipated to hit the roads in 2024. And by the end of 2020, Tesla was worth $650 billion. Capital Com is an execution-only service provider. If we're going autonomous, and we've interviewed both Rivian and Lucid. Lucid Group Stock Forecast 05-05-2023. The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. On Nov 15, 2021, Lucid Group (NASDAQ: LCID) reported Q3 2021 revenue of $232.00 thousand up 30.54% year over year. He emphasized (edited): I have a great deal of respect for many Chinese automakers in driving software capability. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities. According to Forbes, the billionaire had amassed a fortune worth an estimated $5.8 billion. Trading is a highly risky business, please consult with your financial advisor before making any decision. Lucid should provide clarity over its mid-term and long-term gross margins guidance for investors to evaluate its operational efficiencies better. One should do own research and analysis before acting on these comments for any stocks. (from Lucid's FQ3'21 earnings call). However, one EV stock that survived the broader sell-off was Lucid Group (LCID -7.81%), which has seen its stock nearly double in value over the past three months. Current Price. Since then, LCID stock has increased by 7.2% and is now trading at $7.32. By 2026, however, management expects SUV deliveries of about 134,000 to outnumber Air deliveries (about 42,000). To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. After a 40% Drop, Analysts Remain Bullish on Impinj, Visa Charges Higher After Better-Than-Expected Q2 Report, onsemi Puts A Bottom in Chip Stocks, Heads For New Highs, Checkpoint Software Leads Cyber-Security Stocks. Accelerating Phase-2 operations and Saudi Arabia Vision 2030. The LCID (LCID ) future stock price will be 119.160 USD in 5 years. Lucid has also announced increased prices for most models beginning 1 June 2022. It expects the company to consistently generate a gross profit, averaging about 22% from 2023 through 2026. On average, they anticipate the company's share price to reach $10.58 in the next twelve months. Earning this coveted distinction for Lucid Air, our very first car, is a resounding endorsement of our ability to deliver the most advanced EVs in the world., The world has changed dramatically from the time we first announced Lucid Air pricing in September 2020, but I want to reassure our existing reservation holders that we will be honouring current pricing for them as well as for any new reservations made before the end of the month. When Will Lucid Stock Reach $1000? On 5 May, Lucid Group released its financial results for the first quarter of 2022 ended 31 March. Lucid Motors is renowned for its flagship electric sedan, the Lucid Air. So I think scaling up volume is well within our sights. Second, its Lucid Air sedan can travel up to 520 miles on a single charge, beating the Tesla's Model S Long Range by over 100 miles. 5 Hypergrowth Stocks With 10X Potential in 2023, Q1 Earnings Is Giving Stocks the All-Clear, Rare Stock Indicators Show the Market Is About to Skyrocket, One Chart That Indicates This Bear Market Is Ending, The Forever Battery That Promises to Change the EV Industry, 3 Superior Hydrogen Stocks to Buy for the $11 Trillion Breakout. If heavy losses and cash burn continue, the company may need to raise more cash. (from Lucid's FQ3'21 earnings call). Is it 30% like Tesla? But with a market cap of nearly $75 billion, Lucid's stock is already priced for perfection at 34 times that sales estimate. The vehicle . The total average for the year might be $426.48. In fact, Ive been bullish on this company for a while. From their current market capitalizations today, Visa ( V 1.62%), ASML ( ASML 1. . Why? Should you keep money in the bank during recession? By uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends. (from Lucid's FQ3'21 earnings call), Tesla automotive gross margins (ex-credits). However, Teslas sales orders surpassed its purchases. Also Read: Lucid Stock Price Prediction 2025, 2030, 2022, 2040, 2050. Let's review its long-term ambitions to find out. Rawlinson emphasized (edited): We're using our extraordinary efficiency to achieve range to create a technological tool to force to define the brand as a range king. Sell TSLA stock into strength. And when Tesla released its Model S Plaid, there were no mic drop moments. Today, few are holding out on Lucid Group (NASDAQ:LCID) as a possible Tesla (NASDAQ:TSLA) in the making. But, Tesla has an annualized run rate of 1M. In conclusion, we tried our best to answer about what will lucid stock be worth in 5 years. Making use of vertically integrated production processes, the company manufactures its own electric motors, battery packs and transmission systems. In fact, theres a tiny, $3 technology stock that I think may be the single most compelling 12-month investment opportunity in the market today. American Consumer News, LLC dba MarketBeat 2010-2023. Yet even as investors have become less pessimistic about LCID stock, enabling shares to zoom nearly 30% higher year-to-date, dont assume this trend will continue. Tesla sidestepped those problems last year by rewriting its vehicle software for alternative chips, but other smaller EV makers -- like the electric pickup, SUV, and delivery van maker Rivian (RIVN -1.33%) -- struggled to overcome those supply chain challenges. Export data to Excel for your own analysis. Do Analysts' Price Targets Make Domino's Pizza Stock Look Tasty? As of November 18, 2022, the firm operates 29 retail studios in the U.S. and 32 globally. Its expected to boost the companys capacity from 34,000 to 90,000 units per annum. Lucid Motors also partners with Amazon to build compatibility with Amazon's Alexa voice assistant, allowing drivers to use the voice assistant for navigation, phone calls, media streaming and intelligent home control while driving. April 13, 2023|markets.businessinsider.com. Relative newcomer Lucid is giving titan Tesla a run for its money. Lucid at current prices sports a $16 billion market cap, against trailing 12 month losses of around $1.9 billion, and a tangible book value of $3.2 billion. The company reported a highly impressive gross margin of 28.8% in FQ3. Their LCID share price forecasts range from $5.00 to $13.00. Nasdaq After all, even if it fails to become the next Tesla, further expansion over the next five years could send it to the moon again, right? The firm has attracted investments from Tsing Capital, Mitsui, Venrock, and JAFCO. To see all exchange delays and terms of use please see Barchart's disclaimer. Tesla LTM production. Third, it already started shipping its first vehicles last October, and its number of reservations continues to rise. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our. That said, as shares remain at rock-bottom prices, many investors may still find the stock appealing as a long-term comeback play. *Average returns of all recommendations since inception. Cost basis and return based on previous market day close. No part of the website content that we provide should considered as financial advice, legal advice or any other form of advice meant for your investment. If Lucid can continue to produce quality vehicles, it should have a successful future. Sales of cars in the Middle East are also expected in 2022. Shares of LCDX can be purchased through any online brokerage account. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Lucid Motors is in line for a huge 2022. Its shares dropped by more than 5% accordingly in Tuesday . The upstart manufacturer aired a commercial during the episode of Saturday Night Live that Tesla CEO Elon Musk hosted earlier this month. Where Tesla stands to lose a lot of market share, we think Lucid can step in and dominate. Of course, . Since then, changing economic and stock market conditions, coupled with company-specific challenges, have pushed LCID down to sub-$10 per share prices. Lucid only started to ship its first batch of 520 customized "Dream" Air sedans last October. Hailing from Silicon Valley, the global centre for technology and innovation, electric vehicle (EV) manufacturer Lucid Group (LCID) was founded in 2007. Theyve been working on a super-secret Apple Car project since 2015. Earnings for Lucid Group are expected to grow in the coming year, from ($1.41) to ($1.00) per share. My modeling suggests this tiny stock could soar 40X over the next few years. In addition, the company's last-twelve-months (LTM) production run rate has increased tremendously. In a 10 May press release, it announced its first European retail location would be initiated in Munich, Germany. On 18 May, Lucid Group hosted a signing event for the construction of its first-ever international production factory in Saudi Arabia. Lucid plans to increase its annualized production run rate from 20K by 2022 to 500K by 2030. After taking a look at management's forecasts for the next five years, it's no wonder that investors are excited about Lucid's prospects. Assume that LCID stock will stay in neutral, not accelerate, over the next five years. NIO Stock Price Prediction 2025 | What To Expect From NIO? 62.50% of the stock of Lucid Group is held by insiders. Rawlinson highlighted that the company is on track to produce 20K units by 2022 and 50K by 2023, indicating a 150% YoY increase in its run rate. It's a distinction that CEO Peter Rawlinson has envisioned from the start to build the "best car in the world." Q. Lucid Motors teased an electric SUV concept in September 2020 called Project Gravity, featuring an image and brief video clip. View the best growth stocks for 2023 here. The minister of investment of Saudi Arabia, Khalid Al-Falih, commented on the agreement: Aiming to solidify Lucid Groups position as a global EV brand, the company is looking to expand operations into Europe. With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? However, we are unsure over its production capability, and its software edge in autonomous driving. Please log in to your account or sign up in order to add this asset to your watchlist. Join us and start seeing experiencing the quality of our service today. A hold rating indicates that analysts believe investors should maintain any existing positions they have in LCID, but not buy additional shares or sell existing shares.
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