Zacks Research Research Analysts Decrease Earnings Estimates for Tesla, Inc. (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLA - Free Report) - Analysts at Zacks Research dropped their Q2 2024 earnings per share estimates for shares of Tesla in a research note issued to investors on Tuesday, May 7th. Zacks Research analyst R. Singhi now expects that the electric vehicle producer will post earnings per share of $0.50 for the quarter, down from their prior forecast of $0.68. The consensus estimate for Tesla's current full-year earnings is $1.99 per share. Zacks Research also issued estimates for Tesla's Q3 2024 earnings at $0.47 EPS, Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $1.83 EPS, Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.60 EPS, Q3 2025 earnings at $0.64 EPS, Q4 2025 earnings at $0.58 EPS, FY2025 earnings at $2.35 EPS, Q1 2026 earnings at $0.62 EPS and FY2026 earnings at $3.10 EPS.

Several other equities research analysts also recently issued reports on the company. Robert W. Baird reissued an "outperform" rating and issued a $280.00 price objective on shares of Tesla in a research note on Wednesday, April 17th. Barclays cut their price target on Tesla from $225.00 to $180.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 17th. HSBC reduced their target price on Tesla from $138.00 to $120.00 and set a "reduce" rating for the company in a report on Wednesday, April 24th. Cantor Fitzgerald started coverage on Tesla in a report on Thursday, May 2nd. They issued an "overweight" rating and a $230.00 target price for the company. Finally, Bank of America upgraded Tesla from a "neutral" rating to a "buy" rating and set a $220.00 target price for the company in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and an average target price of $185.90.

Tesla Stock Down 2.0 %

Tesla stock traded down $3.50 during mid-day trading on Friday, hitting $168.47. The company's stock had a trading volume of 72,359,349 shares, compared to its average volume of 108,584,360. The firm's 50 day moving average is $171.97 and its 200 day moving average is $203.89. The company has a market cap of $537.28 billion, a PE ratio of 42.98, a price-to-earnings-growth ratio of 4.84 and a beta of 2.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29.

Institutional Investors Weigh In On Tesla

Institutional investors have recently made changes to their positions in the stock. Mount Vernon Associates Inc. MD grew its stake in Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer's stock valued at $1,724,000 after acquiring an additional 350 shares during the period. Oak Ridge Investments LLC grew its stake in Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer's stock valued at $8,065,000 after acquiring an additional 1,405 shares during the period. Corient Private Wealth LLC grew its stake in Tesla by 3.7% in the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer's stock valued at $182,352,000 after acquiring an additional 25,943 shares during the period. J.W. Cole Advisors Inc. grew its stake in Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer's stock valued at $11,533,000 after acquiring an additional 6,615 shares during the period. Finally, Nordea Investment Management AB grew its stake in Tesla by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer's stock valued at $193,935,000 after acquiring an additional 81,729 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the business's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of the business's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company's stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,803 shares of company stock worth $56,124,840. 20.90% of the stock is currently owned by insiders.

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.