Will Tesla stock rise in 2024?
Wall Street consensus has 2024 Tesla earnings firmly below 2023's level. That signals another year of earnings declines for this growth stock. Wall Street currently expects Tesla earnings per share of just $2.70 in 2024, according to FactSet. That would be more than a 13% decline vs.
It's a gloomier outlook for the stock from the algorithmic forecasts of WalletInvestor. Its one-year Tesla stock forecast 2025 is for the stock to fall 18% to $137.77. The site's Tesla stock forecast 2024, meanwhile, has the price hitting $165 during the summer and slipping to around $152 by December 2024.
Simply put, Tesla is still valued like a growth stock—but it's not growing and isn't expected to grow in the near term.
| Stock | Implied upside from April 25 close* |
|---|---|
| Tesla Inc. (TSLA) | 23.4% |
| Mastercard Inc. (MA) | 19% |
| Salesforce Inc. (CRM) | 20.8% |
| Advanced Micro Devices Inc. (AMD) | 30.1% |
TSLA Stock 12 Month Forecast
Based on 32 Wall Street analysts offering 12 month price targets for Tesla in the last 3 months. The average price target is $171.99 with a high forecast of $310.00 and a low forecast of $22.86. The average price target represents a -11.37% change from the last price of $194.05.
| Date | Tesla stock price | 2024 EPS estimate |
|---|---|---|
| Jan. 31, 2024 | 187.29 | $3.14 |
| Feb. 29, 2024 | 201.88 | $3.10 |
| March 28, 2024 | 175.79 | $2.87 |
| April 25, 2024 | 170.18 | $2.50 |
Trading at a price-to-earnings ratio of 41.7 implies rosy projections, which might not end up happening, based on what I just outlined. It's unlikely Tesla's returns going forward will come anywhere near resembling the last five years. So, investors shouldn't expect a $1,000 price per share by the end of the decade.
According to S&P Global Market Intelligence, the consensus analyst target price for Tesla stock is $186.95, representing implied upside of 13% to current levels. Meanwhile, the consensus recommendation is a Hold.
Analyst Forecasts
Currently, 32 Wall Street analysts follow Tesla stock, and they have a consensus “buy” rating on the company. Their average 12-month price target is $207.30, marking a potential gain one year out of about 27%.
Is Tesla stock a Buy, Sell or Hold? Tesla stock has received a consensus rating of buy. The average rating score is and is based on 45 buy ratings, 32 hold ratings, and 16 sell ratings.
What stocks will skyrocket in 2024?
| Stock | 2024 return through March 31 |
|---|---|
| MicroStrategy Inc. (MSTR) | 169.9% |
| SoundHound AI Inc. (SOUN) | 177.8% |
| Vera Therapeutics Inc. (VERA) | 180.4% |
| Avidity Biosciences Inc. (RNA) | 182% |
| Name | Book Value | 1 Year (%) |
|---|---|---|
| J Taparia Projects | ₹ 18.56 | 345.61% |
| Rasi Electrodes | ₹ 9.45 | 52.90% |
| 3P Land Holdings | ₹ 37.75 | 24.68% |
| SAL Steel | ₹ 4.87 | 110.65% |
| S.No. | Name | CMP Rs. |
|---|---|---|
| 1. | Guj. Themis Bio. | 410.55 |
| 2. | Refex Industries | 165.85 |
| 3. | Tata Elxsi | 7051.90 |
| 4. | M K Exim India | 89.80 |
When CNBC asked what Tesla would be worth in five years, Wood confidently said $2,000 per share. The $2,000 per share figure is not new, either. In April 2023, Ark Invest published its valuation model for Tesla with the same price target and the expectation of reaching it by 2027.
Tesla shares slide to 15-month low ahead of earnings, as Wall Street frets over price cuts, layoffs. Tesla's stock dropped for a seventh straight day Monday, reaching its lowest price since January 2023. Over the weekend, the company cut electric vehicle prices in the U.S., China and Europe.
With 2023 in the rearview mirror, analyst consensus now has 2024 Tesla earnings below 2023's level. That signals another year of earnings declines for this growth stock. Wall Street expects Tesla earnings per share of just $2.96 a share in 2024, according to FactSet. That would be a around a 5% decline vs.
To maintain sales momentum in 2023 in 2024, Tesla has aggressively cut vehicle prices and offered discounts. As a result, auto gross margins, which peaked at 30% in Q4 2021 amid industry chip shortages, have plunged well below 20%.
Ten years ago, at market close on March 28, 2014, Tesla's stock was trading at $14.16 per share. This means that $10,000 invested in Tesla in March 2014 would be worth about $124,145 today. This means that if you had invested $120,954.87 in Tesla stock in 2014, you may have been able to sell it today and retire.
The manager of the Baron Focused Growth Fund expects Tesla's stock to reach $1,200 by 2030, up 550% from current levels, citing its strong brand. Tesla and Musk's privately held SpaceX were the fund's largest holdings as of December 31.
"TSLA stock has been under material pressure due to both weaker EV fundamentals and sentiment around the electrification theme," Murphy said. The analyst had a Neutral rating and price target of $220 on Tesla. Murphy said the focus from investors would be on demand and future growth plans from Tesla.
Is Tesla a profitable stock?
The company's gross profit margin, the percentage of revenue it gets to keep after expenses, fell once again to 17.4%. A year ago it was 19.3%, and it peaked at 29.1% in the first quarter of 2022.
The Tesla stock price has plummeted by more than 33 per cent in calendar year 2024 (CY24) to around $170 levels now, marking the electric vehicle giant as the worst performer in the Nasdaq 100 Index and the second worst in the S&P 500 Index.
Tesla shares zoomed higher in early trading, despite the automaker reporting dismal first-quarter earnings on Tuesday. Investors took heart after Chief Executive Elon Musk said Tesla was accelerating the launch of new cars, including vehicles that would sell at more affordable prices.
Updated April 23, 2024 at 9:14 PM ET
"The future is really bright," Tesla CFO Vaibhav Taneja added later. "We just have to get through this period and get there." "This period," though, is rough. Profits were down 55% for the quarter compared to a year ago, after sales decreased and Tesla repeatedly cut prices.
Apple AAPL and Tesla TSLA have gone from stock market darlings to drags. Apple's stock price is down 9% this year after roughly 50% returns in 2023, while Tesla's stock has plunged nearly 30% after returning more than 100% the prior year.
