Benzinga · Nov 9, 2022
Velodyne Lidar Analysts Expect Cost Cut Measures To Drive Bottom Line; Bet Big On Ouster Acquisition
Needham analyst Rajvindra Gill reiterated Buy on Velodyne Lidar, Inc (NASDAQ: VLDR) with a $3 price target. Velodyne announced additional cost-cutting measures, which he expects to benefit the bottom line in the near term and through CY23. Velodyne's lower operating expenses enable lower cash burn. The three new multi-year partnerships announced in the quarter expand the catalog of design wins (in non-auto markets). The transition to new sensors can push margins into positive territory by 1H23. The announced merger creates a complete technology portfolio and accelerates broader LiDAR adoption. He did not see cash as an ...Full story available on Benzinga.com

