Tesla Inc. (NASDAQ: TSLA) is scheduled to release its second-quarter financial results after the markets close on Wednesday. The consensus estimates call for a net loss of $2.89 per share and $3.96 billion in revenue. The same period of last year reportedly had a net loss of $1.33 per share and $2.79 billion in revenue.
Recently, a report suggested that Elon Musk lashed out at a new analysis claiming that nearly a quarter of the more than 400,000 advance reservations for Tesla’s Model 3 battery-sedan have been canceled. This has yet to be seen, but the earnings report will give us a better idea.
According to CNBC:
But a closer look at Musk’s comment raises a different reason for concern: The prospect that new orders may not keep up with Tesla’s long-awaited production ramp-up at its suburban San Francisco assembly plant.
Tesla stock has underperformed the broad markets in the past 52 weeks, with the share price down about 8%. In just 2018 alone, the stock is down 4%.
A few analysts weighed in on Tesla ahead of the report:
- UBS Group has a Sell rating with a $195 price target.
- Goldman Sachs has a Sell rating and a $195 target.
- JPMorgan has a Sell rating with a $180 price target.
- Needham has an Underperform rating.
- Barclays has a Sell rating with a $210 price target.
- Merrill Lynch has a Sell rating with a $180 price target.
- Sanford Bernstein has a Neutral rating with a $265 target.
Shares of Tesla were last seen trading at $299.19 on Wednesday, with a consensus analyst price target of $294.79 and a 52-week trading range of $244.59 to $389.61.
24/7 Wall St.Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
