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Tesla Inc.’s (NASDAQ: TSLA) Stock Could Appreciate By -50.53%

In the latest trading session, 41.01 million Tesla Inc. (NASDAQ:TSLA) shares changed hands as the company’s beta touched 2.08. With the company’s most recent per share price at $265.73 changed hands at -$8.66 or -3.16% at last look, the market valuation stands at $848.49B. TSLA’s current price is a discount, trading about -18.09% off its 52-week high of $313.80. The share price had its 52-week low at $101.81, which suggests the last value was 61.69% up since then. When we look at Tesla Inc.’s average trading volume, we note the 10-day average is 127.59 million shares, with the 3-month average coming to 124.01 million.

Analysts gave the Tesla Inc. (TSLA) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 5 out of 44 analysts rate the stock as a Sell, with a further 5 assigning it an Overweight rating. Of the remaining, 19 recommended TSLA as a Hold, 13 felt it is a Buy and 2 rated the stock as Underweight. Tesla Inc.’s EPS for the current quarter is expected to be $0.75.

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Tesla Inc. (NASDAQ:TSLA) trade information

Instantly TSLA was in red as seen in intraday trades today. With action -2.87%, the performance over the past five days has been red. The drop to weekly highs of 278.98 on Friday, 09/15/23 subtracted -3.16% to the stock’s daily price. The company’s shares are showing year-to-date upside of 115.72%, with the 5-day performance at -2.87% in the red. However, in the 30-day time frame, Tesla Inc. (NASDAQ:TSLA) is 21.21% up. Looking at the short shares, we see there were 82.09 million shares sold at short interest cover period of 0.76 days.

The consensus price target for the stock as assigned by Wall Street analysts is $258.60, meaning bulls need a downside of -2.76% from its recent market value. According to analyst projections, TSLA’s forecast low is $85.00 with $400.00 as the target high. To hit the forecast high, the stock’s price needs a -50.53% plunge from its current level, while the stock would need to tank 68.01% for it to hit the projected low.

Tesla Inc. (TSLA) estimates and forecasts

Data shows that the Tesla Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 47.52% over the past 6 months, a -14.99% in annual growth rate that is considerably lower than the industry average of 15.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Tesla Inc. will fall -28.60%, while the growth in revenue is estimated to hit -29.40% for the next quarter. Year-over-year growth is forecast to reach 14.90% up from the last financial year.

Consensus estimates given by 23 financial analysts project the company’s revenue in the current quarter to hit an average of $23.3 billion. 23 analysts are of the opinion that Tesla Inc.’s revenue for the quarter ending Dec 2023 will be $24.96 billion. The company’s revenue for the corresponding quarters a year ago was $21.96 billion and $24.32 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 6.10%. The estimates for the next quarter sales put growth at 2.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 39.90%. The 2023 estimates are for Tesla Inc. earnings to increase by 121.70%, but the outlook for the next 5-year period is at 10.68% per year.

TSLA Dividends

Tesla Inc. is expected to release its next quarterly earnings report in October.

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