Analysts Offer Predictions for Tesla, Inc.’s FY2024 Earnings (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLA) – Investment analysts at Wedbush boosted their FY2024 EPS estimates for Tesla in a research note issued to investors on Wednesday, July 24th. Wedbush analyst D. Ives now anticipates that the electric vehicle producer will earn $1.85 per share for the year, up from their prior estimate of $1.79. Wedbush currently has a “Outperform” rating and a $300.00 price objective on the stock. The consensus estimate for Tesla’s current full-year earnings is $1.79 per share. Wedbush also issued estimates for Tesla’s Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.66 EPS and Q4 2025 earnings at $0.77 EPS.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS.

TSLA has been the subject of a number of other research reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Tuesday, July 16th. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Friday, July 5th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Finally, TD Cowen upped their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $204.30.

Tesla Trading Down 4.1 %

Shares of Tesla stock opened at $222.62 on Monday. The firm has a 50-day simple moving average of $207.54 and a two-hundred day simple moving average of $190.69. The company has a market cap of $711.19 billion, a P/E ratio of 56.79, a price-to-earnings-growth ratio of 5.69 and a beta of 2.31. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently modified their holdings of TSLA. Apexium Financial LP increased its position in Tesla by 736.8% during the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after purchasing an additional 21,972 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its stake in Tesla by 5.3% during the 4th 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 last quarter. Forum Financial Management LP boosted its stake in Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after acquiring an additional 3,582 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in Tesla by 16.6% during the 4th 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 last quarter. Finally, Catalyst Financial Partners LLC boosted its stake in Tesla by 9.4% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after acquiring an additional 598 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders sold 160,719 shares of company stock worth $32,032,968 over the last 90 days. Company insiders own 25.10% 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.