Research Analysts Issue Forecasts for Tesla FY2024 Earnings

Tesla, Inc. (NASDAQ:TSLA) – Equities research analysts at Zacks Research dropped their FY2024 earnings per share estimates for Tesla in a research note issued on Thursday, January 23rd. Zacks Research analyst R. Singhi now forecasts that the electric vehicle producer will post earnings per share of $1.96 for the year, down from their previous forecast 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.

Other equities research analysts have also issued research reports about the stock. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. Piper Sandler raised their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Canaccord Genuity Group boosted their target price on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Wedbush increased their price target on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $313.84.

Tesla Stock Down 2.3 %

Shares of TSLA opened at $397.15 on Monday. The stock has a 50 day moving average price of $398.82 and a 200 day moving average price of $294.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.81, a PEG ratio of 8.42 and a beta of 2.30. Tesla has a one year low of $138.80 and a one year high of $488.54.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the 3rd quarter worth about $29,000. Clean Yield Group increased its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the third quarter worth approximately $35,000. M&R Capital Management Inc. lifted its position in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Finally, Finley Financial LLC purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This 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 sold 617,886 shares of company stock valued at $212,451,751. 20.70% of the stock is currently owned by company insiders.

About Tesla

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.