Get ready for Tesla’s third-quarter earnings report, set to drop after the closing bell on Wednesday, October 23rd. Investors are closely watching to see how the electric vehicle giant is navigating the market.
Analysts are predicting a modest dip in earnings per share (EPS) compared to the same period last year, with an expected figure of 58 cents per share. However, they anticipate robust revenue growth, projecting $25.37 billion for the quarter, a substantial jump from $22.09 billion in the same period last year.
Tesla has a history of exceeding revenue expectations, having surpassed analyst estimates in five of the last ten quarters, including the recently reported second quarter. While the company’s shares dipped slightly on Tuesday, closing at $217.97, investors are keen to see if Tesla can continue its streak of exceeding expectations.
A Look at Analyst Sentiment:
To gauge market sentiment towards Tesla, let’s examine the views of leading analysts:
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Jefferies:
Analyst Philippe Houchois maintained a Hold rating, but raised the price target from $165 to $195 on October 21st. This analyst has a solid track record, boasting an accuracy rate of 74%.*
Cantor Fitzgerald:
Analyst Andres Sheppard reiterated a Neutral rating with a price target of $245 on October 11th. His accuracy rate stands at 71%.*
Goldman Sachs:
Analyst Mark Delaney also reiterated a Neutral rating with a price target of $230 on October 11th. Delaney’s accuracy rate is 74%.*
Truist Securities:
Analyst William Stein maintained a Hold rating and set a price target of $236 on October 8th. He has a commendable accuracy rate of 88%.*
Piper Sandler:
Analyst Alexander Potter remained bullish, maintaining an Overweight rating and boosting the price target from $300 to $310 on September 25th. This analyst has an accuracy rate of 76%.These diverse opinions highlight the complexities surrounding Tesla’s future performance. While some analysts remain optimistic, others are more cautious, suggesting that investors should carefully weigh their options before making any investment decisions.
Stay tuned for the official earnings release on Wednesday, October 23rd, as it will provide valuable insights into Tesla’s current financial standing and future prospects.
