Q4 2024 EPS Estimates for Tesla, Inc. (NASDAQ:TSLA) Reduced by Wedbush

Tesla, Inc. (NASDAQ:TSLA) – Stock analysts at Wedbush cut their Q4 2024 earnings estimates for Tesla in a research note issued to investors on Wednesday, April 24th. Wedbush analyst D. Ives now forecasts that the electric vehicle producer will post earnings of $0.58 per share for the quarter, down from their prior forecast of $0.70. Wedbush currently has a “Outperform” rating and a $300.00 target price on the stock. The consensus estimate for Tesla’s current full-year earnings is $1.97 per share. Wedbush also issued estimates for Tesla’s Q2 2025 earnings at $0.70 EPS and Q4 2025 earnings at $0.80 EPS.

TSLA has been the topic of several other reports. Jefferies Financial Group decreased their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. UBS Group dropped their target price on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. KGI Securities reaffirmed a “neutral” rating and issued a $213.00 price objective (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Wells Fargo & Company lowered their price objective on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Finally, HSBC decreased their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $186.70.

Tesla Stock Performance

Shares of TSLA stock opened at $168.29 on Monday. The firm has a market cap of $536.71 billion, a PE ratio of 42.93, a P/E/G ratio of 4.45 and a beta of 2.39. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The company’s fifty day simple moving average is $175.04 and its 200-day simple moving average is $207.22. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is owned by insiders.

Institutional Trading of Tesla

A number of large investors have recently modified their holdings of TSLA. Norges Bank bought a new stake in shares of Tesla during the 4th quarter valued at about $7,844,757,000. International Assets Investment Management LLC lifted its position in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. lifted its position in Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the last quarter. California Public Employees Retirement System lifted its position in Tesla by 34.0% in the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after buying an additional 2,293,344 shares during the last quarter. Finally, Morgan Stanley lifted its position in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.