Shares of Lucid (LCID) tanked in after-hours trading after the EV company reported earnings for its second quarter of Fiscal Year 2025. Lucid produced 3,863 vehicles and delivered 3,309, which was an increase from the previous quarter’s figure of 3,110, as shown in the image below. It also brought in $259.4 million in revenue, which was essentially in line with estimates of $259.35 million, while its loss of -$0.24 per share missed analysts’ expectations of -$0.22.
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However, what likely spooked investors the most was that the company revised its production outlook for 2025 from 20,000 to a range of 18,000 – 20,000 vehicles. Nevertheless, it ended the quarter with about $4.86 billion in total liquidity, which should provide it with a solid financial base to support its operations and growth plans. At the same time, Lucid announced several major operational milestones, which include a robotaxi partnership with Uber, where the company will deploy at least 20,000 Lucid Gravity vehicles equipped with Nuro Driver Level 4 autonomous technology.
The company also expanded its DreamDrive Pro system by adding Hands-Free Drive Assist and Lane Change Assist, and added access to over 23,500 Tesla Superchargers across North America for all Lucid Air models using a Lucid-approved NACS adapter. Furthermore, Lucid named award-winning actor Timothée Chalamet as its first-ever brand ambassador in order to boost brand awareness.
What Is a Good Price for LCID Stock?
Turning to Wall Street, analysts have a Hold consensus rating on LCID stock based on one Buy, seven Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average LCID price target of $3.19 per share implies 30% upside potential. However, it’s worth noting that estimates will likely change following today’s earnings report.
