Can Tesla Stock Hit $300 by the End of 2023?
(NASDAQ: TSLA) shares have crushed the market this year, up 87% (as of Aug. 21). But they've taken a breather in the past month, down about 21% since their recent high posted on July 18. Investors seem to be digesting the latest financial results in a negative light.
This top electric-vehicle (EV) stock currently trades at about $230. Can it reach $300 per share by the end of 2023, which would translate to a 30% gain over the next four months or so? While the near term is always full of uncertainty, it's definitely in the realm of possibilities.
In each of the first two quarters of 2023, Tesla was able to exceed Wall Street analyst estimates for the top line, generating revenue of $23.3 billion and $24.9 billion in Q1 and Q2, respectively. Both figures showed year-over-year increases of greater than 20%, which is tremendous growth for the EV-industry leader. Tesla also delivered 889,000 cars in the last two quarters, compared to 565,000 in the first six months of 2022.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 73 Buy predictions and 28 Sell predictions.
With a target price of 245 € there is a positive potential of 21.08% for Tesla Inc compared to the current price of 202.35 €.
