Luxury electric vehicle (EV) maker Lucid Group (LCID) will report its Q1 FY26 results on Tuesday, May 5. The stock has lost 38% year-to-date. According to TipRanks’ Options Tool, options traders expect a 13.30% move in either direction in LCID stock in reaction to Q1 2026 earnings. This implied move is far higher than Lucid’s average post-earnings move (in absolute terms) of 5.24% over the past four quarters.
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Recent Event Ahead of the Q1 Print
Last month, Lucid Group confirmed in a recent regulatory filing that Uber Technologies (UBER) now holds an 11.52% passive stake in the company, equal to more than 37.75 million shares. This makes Uber the second largest shareholder after Public Investment Fund (PIF).
The update follows an April 14 announcement in which Uber added $200 million to its investment in Lucid, bringing the total to $500 million. As part of this expanded partnership, Uber also increased its order to at least 35,000 Lucid vehicles for its planned global robotaxi network.
Wall Street’s Expectations from Lucid
Wall Street expects a Q1 loss of $2.35 per share, versus a $2.40 loss reported a year ago. Meanwhile, revenues are expected to rise by 57% from the same quarter last year, reaching $369.99 million, according to data from the TipRanks Forecast page. Importantly, Lucid has missed earnings estimates six times in the past nine quarters, reflecting the struggles in the EV market.
Looking ahead to the May 5 report, investors will focus on a few key areas. First is the recovery of the Gravity SUV after a 29-day delivery pause in Q1 due to a supplier issue, which weighed on deliveries despite solid production. They will also watch if the company sticks to its annual target of 25,000 to 27,000 vehicles.
At the same time, investors will look for updates on the Uber deal, including when vehicles for its robotaxi fleet will be delivered.
Analyst’s Take on LCID Ahead of Q1 Results
Ahead of the report, RBC Capital analyst Tom Narayan lowered its price target on Lucid to $8 from $10 and kept a Sector Perform rating. The firm said auto stocks have come under pressure due to macro concerns, including tensions in the Middle East.
While higher fuel prices could support EV demand in Europe, RBC sees limited impact in the U.S., where government incentives remain the main driver of sales.
What Is Lucid’s Stock Forecast?
The stock of Lucid Group has a consensus Hold rating among 10 Wall Street analysts. That rating is currently based on seven Holds, two Sells, and one Buy issued in the past three months. The average LCID price target of $13.13 implies 100.69% upside from current levels.
