Analyst Coverage Change on Earnings
Analysts at Wolfe Research, Wedbush Securities, Cowen, Wells Fargo & Company, Citigroup and Bank of America Merrill Lynch have provided earnings updates on Tesla’s stock after the company reported a positive earnings report after the Market closed on Wednesday, January 25th. Analysts were pleased to have a lot of their concerns met once the company beat on earnings estimates. Analysts were also very pleased with the future outlook, especially with the “near” production of the new “Mad Max” style Cybertruck, which is radically set to change the “Truck”, “SUV” and “Off-Road” products in these sub-set markets of the automotive industry.
Wolfe Research maintained an “Outperform” rating with a target price raised from USD 160 to 185.
Wedbush Securities raised their target price from USD 175 to 200 and maintained an “Outperform” rating.
Cowen raised their target price from USD 122 to 140 and maintained a “Market Perform” rating.
Wells Fargo & Company maintained an “Equal-Weight” rating with a target price raised from USD 130 to 150.
Citigroup maintains a “Neutral” rating with a target price raised from USD 137 to 146.
Bank of America Merrill Lynch maintained the “Neutral” rating with a target price increase from USD 130 to 155 per share.
TSLA Stock Forecast & Analysis
The average target price for Tesla Inc’s stock, as forecasted by 39 analysts, is USD 245.78 over the next 12 months. This suggests that the analysts believe that the stock has potential for growth in the future. The average analyst rating for the stock is “Buy”, which means that the majority of analysts recommend buying the stock. Stock Target Advisor, has assessed Tesla Inc’s stock as “Slightly Bullish”, which is based on a combination of 10 positive signals and 6 negative signals. This suggests that the platform believes the stock has potential for growth in the future, but it’s important to note that it’s a relatively mild bullish sentiment.
It’s also worth noting that Tesla Inc’s stock price has had a relatively positive performance in recent weeks. The stock price has increased by 12.15% over the past week, 17.28% over the past month and 52.82% over the last year.
Tesla Q4 Earnings
Tesla reported strong Q4 earnings, with revenue of $24.32 billion and an adjusted EPS of $1.19, beating expectations. The company set another record high with revenue increasing by over $2 billion from Q3 and nearly $7 billion from the previous year. Profitability was also strong, with adjusted net income of $4.1 billion, nearly $400 million more than Q3 and over $1.3 billion more than the previous year. CEO Elon Musk stated that recent price cuts had boosted demand considerably and that January had seen the strongest orders to date.
Tesla, Inc. is an American multinational corporation that specializes in electric vehicles, energy storage and solar panel manufacturing based in Palo Alto, California. Founded in July 2003, the company specializes in electric cars, lithium-ion battery energy storage, and residential photovoltaic panels (through the subsidiary company named Tesla Energy) and also sells power storage devices for home and industry. The additional products Tesla sells include the Tesla Powerwall and Powerpack batteries, solar panels and solar roof tiles.