In the last trading session, 163.89 million Tesla Inc. (NASDAQ:TSLA) shares changed hands as the company’s beta touched 2.01. With the company’s per share price at $213.97 changed hands at $6.45 or 3.11% during last session, the market valuation stood at $657.74B. TSLA’s last price was a discount, traded about -47.06% off its 52-week high of $314.67. The share price had its 52-week low at $101.81, which suggests the last value was 52.42% up since then. When we look at Tesla Inc.’s average trading volume, we note the 10-day average is 141.32 million shares, with the 3-month average coming to 132.68 million.
Analysts gave the Tesla Inc. (TSLA) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 5 out of 47 analysts rate the stock as a Sell, with a further 4 assigning it an Overweight rating. Of the remaining, 18 recommended TSLA as a Hold, 19 felt it is a Buy and 1 rated the stock as Underweight. Tesla Inc.’s EPS for the current quarter is expected to be $0.78.
Instantly TSLA was in green as seen at the end of in last trading. With action 15.99%, the performance over the past five days has been green. The jump to weekly highs of 217.25 on Friday, 06/02/23 added 3.11% to the stock’s daily price. The company’s shares are showing year-to-date upside of 73.71%, with the 5-day performance at 15.99% in the green. However, in the 30-day time frame, Tesla Inc. (NASDAQ:TSLA) is 33.22% up. Looking at the short shares, we see there were 95.15 million shares sold at short interest cover period of 0.77 days.
The consensus price target for the stock as assigned by Wall Street analysts is $190.36, meaning bulls need a downside of -12.4% from its current market value. According to analyst projections, TSLA’s forecast low is $71.00 with $300.00 as the target high. To hit the forecast high, the stock’s price needs a -40.21% plunge from its current level, while the stock would need to tank 66.82% for it to hit the projected low.
Tesla Inc. (TSLA) estimates and forecasts
Data shows that the Tesla Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 9.90% over the past 6 months, a -12.53% in annual growth rate that is considerably lower than the industry average of 12.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Tesla Inc. will rise 2.60%, while the growth in revenue is estimated to hit -17.10% for the next quarter. Year-over-year growth is forecast to reach 21.90% up from the last financial year.
Consensus estimates given by 20 financial analysts project the company’s revenue in the current quarter to hit an average of $24.01 billion. 19 analysts are of the opinion that Tesla Inc.’s revenue for the quarter ending Sep 2023 will be $25.46 billion. The company’s revenue for the corresponding quarters a year ago was $16.93 billion and $21.96 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 41.80%. The estimates for the next quarter sales put growth at 15.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 39.90%. The 2023 estimates are for Tesla Inc. earnings to increase by 121.70%, but the outlook for the next 5-year period is at 10.66% per year.
Tesla Inc. is expected to release its next quarterly earnings report between July 18 and July 24.
Tesla Inc. (NASDAQ:TSLA)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 13.06% of Tesla Inc. shares while 44.89% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 51.63%. There are 44.89% institutions holding the Tesla Inc. stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Mar 30, 2023, the company held 6.96% of the shares, roughly 220.62 million TSLA shares worth $45.77 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.64% or 178.66 million shares worth $37.07 billion as of Mar 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2022 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 81.59 million shares estimated at $10.05 billion under it, the former controlled 2.57% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 1.96% of the shares, roughly 62.05 million shares worth around $7.64 billion.