The average Wall Street price target for Tesla (NASDAQ: TSLA) is currently $299.56 per share, indicating a 10% downside potential over the next 12 months. This follows a slowdown in electric vehicle (EV) sales, which saw a 4.4% decline year over year in April. Analysts foresee stagnating revenue for Tesla, contrasting with growth expectations for competitors like Rivian Automotive and Lucid Group, projected to grow between 5% and 75%.
Despite the bearish outlook, Tesla’s market capitalization is over $1 trillion, and shares are nearing all-time highs. Analysts like Dan Ives suggest the company’s robotaxi division could add $1 trillion in value by the end of 2026, hinting at potential for substantial growth. Tesla trades at 12.2 times sales, higher than Rivian’s 2.9 and Lucid’s 9.3, reflecting a market perspective that diverges from average Wall Street analysis.
