Lucid Group (LCID) stock declined about 3% after posting lower-than-expected third-quarter results. The automaker delivered Q3 loss per share of $3.31, which came wider than the analysts’ consensus estimate of a loss of $2.30 per share. However, it improved from a loss of $4.09 in the year-ago quarter.
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Meanwhile, the company’s Q3 revenue rose by 68% year-over-year to $336.6 million but missed the analysts’ estimates of $370.6 million.
What Is the Price Target for LCID Stock?
Turning to Wall Street, LCID stock has a Hold consensus rating based on one Buy, eight Holds, and two Sell recommendations issued in the past three months. The average LCID price target of $25.00 implies 45.94% upside from current levels.
It must be noted that analysts may update their price targets for LCID stock after this earnings report.
