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

Tesla, Inc. (NASDAQ:TSLA) – Research analysts at Zacks Research cut their FY2024 EPS estimates for shares of Tesla in a note issued to investors on Monday, April 15th. Zacks Research analyst R. Singhi now anticipates that the electric vehicle producer will post earnings per share of $2.64 for the year, down from their prior forecast of $2.72. The consensus estimate for Tesla’s current full-year earnings is $1.97 per share. Zacks Research also issued estimates for Tesla’s Q4 2025 earnings at $0.77 EPS and FY2025 earnings at $3.14 EPS.

Several other equities research analysts have also issued reports on TSLA. UBS Group reduced their price objective on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Citigroup dropped their target price on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. KGI Securities reiterated a “neutral” rating and issued a $213.00 target price (down previously from $309.00) on shares of Tesla in a report on Thursday, January 25th. Redburn Atlantic assumed coverage on shares of Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Tesla from a “buy” rating to a “hold” rating and dropped their target price for the stock from $189.00 to $123.00 in a report on Thursday. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $194.70.

Tesla Stock Down 3.6 %

TSLA stock opened at $149.93 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla has a 1 year low of $148.70 and a 1 year high of $299.29. The company has a fifty day simple moving average of $179.45 and a 200 day simple moving average of $212.21. The firm has a market cap of $477.50 billion, a PE ratio of 34.79, a PEG ratio of 4.15 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same period in the previous year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last three months. 25.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the stock. Wyrmwood Management LLC bought a new position in shares of Tesla in the 4th quarter valued at about $25,000. Lam Group Inc. bought a new position in shares of Tesla in the 4th quarter valued at about $25,000. Alpha Paradigm Partners LLC bought a new position in shares of Tesla in the 3rd quarter valued at about $27,000. Perkins Coie Trust Co boosted its stake in shares of Tesla by 72.0% in the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 54 shares during the last quarter. Finally, Mendota Financial Group LLC boosted its stake in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 66.20% 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.