How Analysts Are Rating Tesla before Its 1Q18 Earnings Release


Apr. 13 2018, Updated 5:55 p.m. ET

Analysts on Tesla stock

According to Reuters, of the 26 analysts covering Tesla (TSLA) stock on April 11, 2018, ~35% recommended “buy,” 35% recommended “hold,” and 30% recommended “sell.” Analysts’ 12-month target price for Tesla stock was $320.17, reflecting an upside potential of ~6.4% based on its closing price of $320.17 on April 11.

In 2018 so far, Tesla has fallen 3.3%, whereas the S&P 500 has fallen 1.2%. In 4Q17, the stock fell ~8.7%, primarily due to Tesla’s slower-than-expected Model 3 production ramp-up. By the end of 1Q18, Tesla planned to achieve a Model 3 production rate of 2,500 units per week. However, in the final week of 1Q18, the company could produce only 2,020 units, much lower than its expectation.

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Other factors

In 1Q18, TSLA delivered ~29,980 cars to customers, comprising ~11,730 Model S units, 10,070 Model X units, and 8,180 Model 3 units. Its total vehicle deliveries rose 19.7% year-over-year but were flat quarter-over-quarter. The company delivered 29,967 car units in the previous quarter. In the coming few months, the Model 3 ramp-up will be critical in maintaining investor optimism.

In March 2018, a Tesla Model X driver died in a road accident in California. On March 27, Tesla stock fell ~8.2% after the National Transportation Safety Board initiated an investigation into the crash.

Tesla is expected to release its 1Q18 earnings results in the first week of May 2018. As of April 11, Tesla’s market capitalization was $50.3 billion, while automakers (XLY) General Motors (GM), Ford (F), and Ferrari (RACE) had market caps of $54.9 billion, $45.4 billion, and $22.8 billion, respectively. Continue to the next part to learn how analysts are rating General Motors stock in April 2018.

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