With Tesla Inc. expected to release its third-quarter results, leading analysts are making their predictions and weighing in on the company’s prospects.
Tesla To Beat Consensus Estimates
Prominent Tesla analyst Troy Teslike forecasts that the EV giant will beat analyst consensus estimates across the board during its third-quarter results. Teslike predicts a Non-GAAP earnings per share of $0.66, against consensus estimates at $0.59 per share, and expects the company to generate $28.4 billion in revenue, ahead of analyst consensus at $27.3 billion.
The only metric where Teslike’s projections trail other analysts is gross margins, where they expect 17.2%, which is below others at 17.3%.
Markets ‘Got A Little Too Carried Away’ By The Robotaxi Hype
Seth Goldstein, Morningstar’s Senior Equity Analyst, believes the market may be pricing in too much too soon. Goldstein is skeptical of a full robotaxi launch this year, adding that it is unlikely to be launched without safety drivers in the car and without any parameters or geo-fencing.
Goldstein pointed out that Tesla’s autonomous vehicle technology is “still a few years away” because the product is in early testing. While reiterating his “Sell” rating on the stock, Goldstein acknowledged that “there’s a lot to like about Tesla,” citing optimism around long-term developments like Optimus humanoid robots and the company’s battery business.
‘Tesla Is Heading To $900’ Within A Year
Tom Nash, a long-time Tesla bull, made a bold prediction, saying that the company’s stock could more than double from its current levels, heading to $900 per share within “6 to 12 months at most.” Nash cited several Tesla growth drivers to justify his target, such as “AI, FSD [full self-driving], robo taxi, energy, and obviously robotics,” claiming the company is placing itself “as the leading gold standard in each of the most important secular trends we’re going to experience over the next decade.”
Current Stock Performance
Shares of Tesla were down 1.08% on Tuesday, closing at $442.60, but are up 0.32% in overnight trade, ahead of the company’s third-quarter results.
Key Takeaways
- Tesla Inc. is expected to release its third-quarter results
- Analysts are split on the company’s performance, with some predicting a beat and others expecting a sell
- Tesla’s stock price is expected to reach $900 within a year, according to Tom Nash
- The company’s autonomous vehicle technology is still in early testing
- Tesla’s battery business and Optimus humanoid robots are expected to drive long-term growth