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Tesla (TSLA - Free Report) has recently made headlines in the lead-up to its ‘We, Robot’ event, where it is expected to unveil further information surrounding its robotaxi roadmap and other new developments that could include its humanoid robot project.
It’s undoubtedly expected to be an exciting moment for the company, particularly following years of efforts within its FSD program and the recent artificial intelligence frenzy.
It raises a valid question – should investors take a closer look at shares heading into the event? Let’s take a glance at how the company presently stacks up.
Tesla Shares See Recent Momentum
As usual, the critical metric for Tesla is its EV production/delivery numbers, though margins have become a close second. To the likes of investors, the company unveiled its Q3 production and delivery numbers recently; Tesla delivered roughly 463k EVs and produced nearly 470k throughout the period.
As shown below, recent EV delivery results have come in well below our consensus expectations, with Tesla falling short in four consecutive periods.
Image Source: Zacks Investment Research
Still, margin pressures have been the real driver behind any negative sentiment in recent quarterly releases, which have declined quite significantly over recent periods. Below is a chart illustrating the company’s gross margin on a trailing twelve-month basis.
Image Source: Zacks Investment Research
And shares have primarily delivered a muted performance in 2024, down 1.7% and widely underperforming relative to the S&P 500 and other Mag 7 members. The company’s earnings outlook has been taken lower across the board over recent months, which doesn’t bode well for near-term share performance.
Image Source: Zacks Investment Research
While the upcoming event could bring an unknown surprise, it overall looks to be less impactful than some could expect. It’s no secret that the company has been laser-focused on its autonomous driving, and shares are up 10% over the last month, potentially a reflection of the event already being ‘baked in.’
Are Shares Worth a Look?
For those looking to reap quick gains with a shorter-term outlook, Tesla’s (TSLA - Free Report) current earnings outlook isn’t constructive for near-term share performance. Still, it’s entirely possible that a big surprise could be revealed during the event, but shares have already enjoyed a 10% run leading into the event over the past month.
For investors with a much longer timeframe, the company remains the EV favorite, painting a bright picture for long-term gains. Just in its latest earnings release, Tesla stated, ‘Though timing of Robotaxi deployment depends on technological advancement and regulatory approval, we are working vigorously on this opportunity given the outsized potential value.’
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Tesla Robotaxi Event: Are Shares Worth a Look?
Tesla (TSLA - Free Report) has recently made headlines in the lead-up to its ‘We, Robot’ event, where it is expected to unveil further information surrounding its robotaxi roadmap and other new developments that could include its humanoid robot project.
It’s undoubtedly expected to be an exciting moment for the company, particularly following years of efforts within its FSD program and the recent artificial intelligence frenzy.
It raises a valid question – should investors take a closer look at shares heading into the event? Let’s take a glance at how the company presently stacks up.
Tesla Shares See Recent Momentum
As usual, the critical metric for Tesla is its EV production/delivery numbers, though margins have become a close second. To the likes of investors, the company unveiled its Q3 production and delivery numbers recently; Tesla delivered roughly 463k EVs and produced nearly 470k throughout the period.
As shown below, recent EV delivery results have come in well below our consensus expectations, with Tesla falling short in four consecutive periods.
Image Source: Zacks Investment Research
Still, margin pressures have been the real driver behind any negative sentiment in recent quarterly releases, which have declined quite significantly over recent periods. Below is a chart illustrating the company’s gross margin on a trailing twelve-month basis.
Image Source: Zacks Investment Research
And shares have primarily delivered a muted performance in 2024, down 1.7% and widely underperforming relative to the S&P 500 and other Mag 7 members. The company’s earnings outlook has been taken lower across the board over recent months, which doesn’t bode well for near-term share performance.
Image Source: Zacks Investment Research
While the upcoming event could bring an unknown surprise, it overall looks to be less impactful than some could expect. It’s no secret that the company has been laser-focused on its autonomous driving, and shares are up 10% over the last month, potentially a reflection of the event already being ‘baked in.’
Are Shares Worth a Look?
For those looking to reap quick gains with a shorter-term outlook, Tesla’s (TSLA - Free Report) current earnings outlook isn’t constructive for near-term share performance. Still, it’s entirely possible that a big surprise could be revealed during the event, but shares have already enjoyed a 10% run leading into the event over the past month.
For investors with a much longer timeframe, the company remains the EV favorite, painting a bright picture for long-term gains. Just in its latest earnings release, Tesla stated, ‘Though timing of Robotaxi deployment depends on technological advancement and regulatory approval, we are working vigorously on this opportunity given the outsized potential value.’