Tesla Inc. (NASDAQ: TSLA) – Analysts’ Revisions Show An Improving Sentiment

Tesla Inc. (NASDAQ:TSLA) traded at $228.52 at close of the session on Friday, 10/28/22, made an upward move of 1.52% on its previous day’s price.

Looking at the stock we see that its previous close was $225.09 and the beta (5Y monthly) reads 2.11 with the day’s price range being $216.35 – $228.86. The company has a trailing 12-month PE ratio of 70.40. In terms of its 52-week price range, TSLA has a high of $414.50 and a low of $198.59. The company’s stock has lost about -14.80% over that past 30 days.

Tesla Inc. has a market cap of $710.78 billion and is expected to release its quarterly earnings report on Oct 18, 2022 – Oct 24, 2022. Estimates by analysts give the company expected earnings per share (EPS) of $3.08, with the EPS growth for the year raised at $11.81 for 2022 and $15.93 for next year. These figures represent 74.20% and 34.90% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $22.52 billion, with a low of $18.39 billion and a high of $25.57 billion. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $84.77 billion, or 57.50% up from figures reported last year.

There have been 2 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the TSLA stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 41 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 12 have rated the Tesla Inc. (TSLA) stock as a Hold, while 21 rate it as a Buy. 4 analyst(s) rate it as overweight while 1 of them rated it as underweight, whereas 3 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the TSLA stock currently stands at 1.46, and the current price level is 1.36% off its SMA20 and -13.52% from its 50-day simple moving average. The RSI (14) is pointing at 45.24 while the volatility over the past week is 6.15% and jumps to 5.76% over the past one month. The beta value is 2.02, while the average true range (ATR) is currently pointing at 13.88. The average price target for the stock over the next 12 months is $293.43, with the estimates having a low of $85.00 and a high of $530.00. These price ends are 62.8% and -131.93% off the current price level respectively, although investors could be excited at the prospect of a -33.47% if the TSLA share price touches on the median price of $305.00.

Coming back to Tesla Inc. (NASDAQ:TSLA), we note that the average 3-month trading volume was 73.54 million, while that of the preceding 10-day period stands at 82.79 million. Current shares outstanding are 3.15 billion.

The insiders hold 0.10% of the company’s shares while institutions hold 43.90%. The data shows that short shares as of Jul 14, 2022, stood at 23.49 million at a short ratio of 0.76. This represents a 2.26% short interest in shares outstanding on Jul 14, 2022. Shares short fall in July from the previous month at 26.88 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -35.13% down in year-to-date price movement.

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