Tesla Stock Jumps Ahead of Earnings Report
Tesla (NASDAQ: TSLA) saw its stock price increase by 7.6% on Wednesday, reaching a notable peak around 12:35 p.m. ET, just one week before the company is set to announce its Q1 earnings results. Wall Street analysts from Barclays and TD Cowen have expressed caution regarding the upcoming report, with Cowen lowering its price target from $490 to $360 per share.
Despite Tesla’s recent delivery miss—producing 408,000 electric vehicles in Q1 but selling only 358,000—analysts are expecting a sales growth of 17%, projecting revenues of at least $22.6 billion and per-share profit of $0.38, which marks a 41% increase compared to the same quarter last year.
