FY2024 Earnings Forecast for Tesla Issued By Zacks Research

Tesla, Inc. (NASDAQ:TSLA) – Zacks Research cut their FY2024 earnings estimates for shares of Tesla in a report released on Thursday, January 23rd. Zacks Research analyst R. Singhi now expects that the electric vehicle producer will earn $1.96 per share for the year, down from their prior estimate of $2.06. The consensus estimate for Tesla’s current full-year earnings is $2.01 per share. Zacks Research also issued estimates for Tesla’s Q4 2024 earnings at $0.58 EPS, Q4 2025 earnings at $0.66 EPS, FY2025 earnings at $2.78 EPS, Q2 2026 earnings at $0.89 EPS, Q4 2026 earnings at $0.83 EPS and FY2026 earnings at $3.56 EPS.

A number of other equities research analysts have also issued reports on the stock. Barclays raised their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Robert W. Baird lifted their price target on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $313.84.

Tesla Stock Up 0.3 %

TSLA opened at $398.31 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $399.99 and its 200-day moving average price is $295.57. The company has a market cap of $1.28 trillion, a P/E ratio of 109.13, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $31,548,461.84. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 617,886 shares of company stock valued at $212,451,751. 20.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hengehold Capital Management LLC boosted its position in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after acquiring an additional 24 shares during the last quarter. Strategic Investment Advisors MI increased its holdings in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC lifted its position in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD increased its stake in Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Prospect Financial Services LLC boosted its position in shares of Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after acquiring an additional 26 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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.