Tesla, Inc. (NASDAQ:TSLA) to Post Q4 2024 Earnings of $0.58 Per Share, Wedbush Forecasts

Tesla, Inc. (NASDAQ:TSLA) – Investment analysts at Wedbush cut their Q4 2024 earnings estimates for Tesla in a report issued on Wednesday, April 24th. Wedbush analyst D. Ives now expects that the electric vehicle producer will post earnings of $0.58 per share for the quarter, down from their previous forecast of $0.70. Wedbush currently has a “Outperform” rating and a $275.00 price target 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.

Several other analysts have also recently commented on TSLA. Sanford C. Bernstein reduced their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Canaccord Genuity Group cut their price target on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Jefferies Financial Group decreased their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. HSBC dropped their price objective on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. Finally, Guggenheim reiterated a “sell” rating and issued a $122.00 target price on shares of Tesla in a report on Tuesday, April 23rd. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $184.32.

Tesla Trading Up 15.3 %

NASDAQ TSLA opened at $194.05 on Monday. Tesla has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $618.86 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 4.45 and a beta of 2.40. The business’s 50-day moving average price is $174.92 and its two-hundred day moving average price is $206.77.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently modified their holdings of the business. Wyrmwood Management LLC bought a new stake in Tesla during the 4th quarter valued at $25,000. Lam Group Inc. purchased a new position in shares of Tesla in the fourth quarter valued at $25,000. Mendota Financial Group LLC raised its stake in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla during the 4th quarter valued at $37,000. Finally, Guardian Wealth Management Inc. purchased a new stake in Tesla during the 4th quarter worth about $47,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on 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 sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. Insiders own 20.90% of the company’s stock.

Tesla Company Profile

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.