Tesla, Inc. (NASDAQ:TSLA) to Post Q4 2024 Earnings of $0.58 Per Share, Wedbush Forecasts

Tesla, Inc. (NASDAQ:TSLA - Free Report) - Investment analysts at Wedbush lowered their Q4 2024 earnings per share (EPS) estimates for shares of Tesla in a research report issued to clients and investors on Wednesday, April 24th. Wedbush analyst D. Ives now anticipates that the electric vehicle producer will post earnings per share of $0.58 for the quarter, down from their previous estimate of $0.70. Wedbush currently has a "Outperform" rating and a $275.00 price target on the stock. The consensus estimate for Tesla's current full-year earnings is $1.97 per share. Wedbush also issued estimates for Tesla's Q2 2025 earnings at $0.70 EPS and Q4 2025 earnings at $0.80 EPS.

Several other equities research analysts also recently issued reports on the company. Citigroup lifted their price objective on Tesla from $180.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, April 24th. Canaccord Genuity Group dropped their price objective on Tesla from $234.00 to $222.00 and set a "buy" rating on the stock in a report on Wednesday, April 24th. Robert W. Baird reiterated an "outperform" rating and issued a $280.00 price target on shares of Tesla in a report on Wednesday, April 17th. China Renaissance started coverage on Tesla in a research report on Monday, February 26th. They set a "hold" rating for the company. Finally, Bank of America upgraded Tesla from a "neutral" rating to a "buy" rating and set a $220.00 price objective for the company in a research report on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $184.32.

Tesla Stock Up 15.3 %

Shares of NASDAQ:TSLA traded up $25.76 during mid-day trading on Monday, hitting $194.05. 243,386,278 shares of the company traded hands, compared to its average volume of 105,090,164. The firm has a market cap of $618.86 billion, a P/E ratio of 48.47, a PEG ratio of 4.45 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The firm's 50 day simple moving average is $175.04 and its 200 day simple moving average is $207.22.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the business's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 20.90% of the company's stock.

Institutional Trading of Tesla

Several large investors have recently made changes to their positions in TSLA. Norges Bank bought a new stake in Tesla during the 4th quarter valued at approximately $7,844,757,000. International Assets Investment Management LLC boosted its stake in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer's stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Vanguard Group Inc. boosted its stake in Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer's stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. California Public Employees Retirement System boosted its stake in Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer's stock valued at $2,260,039,000 after purchasing an additional 2,293,344 shares during the period. Finally, Morgan Stanley boosted its stake in Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer's stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.