Why Tesla Stock Roared Back Last Week
It seems that for many investors, (NASDAQ: TSLA) is a company that can do no wrong. Despite publishing an earnings report that showed worrying declines in key metrics and a double miss on analyst estimates, the company's stock rose last week. According to data compiled by S&P Global Market Intelligence, the leading electric-vehicle (EV) company enjoyed a more than 14% lift across the last five trading days.
Tesla reported its first-quarter earnings after market hours on Tuesday, and they didn't look good at all. Revenue declined by 9% year over year, while non-GAAP (adjusted) earnings plummeted by nearly 50%. Both figures came in notably under the consensus analyst projections.
That difference between the rates of decline was due mostly to Tesla's aggressive cost-cutting. The EV space has become more competitive at a time when such vehicles are no longer a novelty. Customers are less willing to pay a premium for a good that's becoming commonplace.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 76 Buy predictions and 27 Sell predictions.
With a target price of 247 € there is a positive potential of 27.5% for Tesla Inc compared to the current price of 193.72 €.
