Welcome to Extreme Investor Network, where we provide you with unique and valuable insights on the latest trends in investing. Today, we will be diving into the highly anticipated second-quarter results of Tesla, set to be released postmarket on Tuesday.
Analysts are expecting Tesla to post 62 cents in earnings per share on $24.77 billion in revenue for the second quarter. While the revenue estimate is slightly higher than the previous quarter, the earnings forecast is 30% below the previous year. This has led to mixed sentiments among investors, with some seeing the upcoming earnings as a major catalyst for the stock.
Guggenheim analyst Ronald Jewsikow expressed concerns about the delay of Tesla’s Robotaxi and its potential impact on the company’s future. He rates Tesla as a sell with a 12-month price target of $134, implying a more than 46% plunge from Monday’s close. Other analysts, such as Barclays analyst Dan Levy and Evercore’s Chris McNally, also see downside potential for Tesla shares in the near term.
Despite the bearish outlook from some analysts, there are also bullish sentiments surrounding Tesla. Morgan Stanley’s Adam Jonas, for example, carries an overweight rating on shares, citing Tesla’s growing recognition beyond just a car company. Jonas sees potential for Tesla to be seen as an AI play and a dominant player in energy storage.
As we await Tesla’s second-quarter results, it is clear that there are mixed opinions on the stock’s future performance. Stay tuned to Extreme Investor Network for more updates and insights on Tesla and other investment opportunities. Invest wisely!