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
Related tickers: VLDR, OUST.
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