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Chicago, IL – October 10, 2024 – Zacks.com announces the list of stock featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Tesla (TSLA - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Tesla Robotaxi Event: Are Shares Worth a Look?
Tesla 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.
Recent EV delivery results have come in well below our consensus expectations, with Tesla falling short in four consecutive periods.
Still, margin pressures have been the real driver behind any negative sentiment in recent quarterly releases, which have declined quite significantly over recent periods.
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.
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 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.’
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Tesla
For Immediate Releases
Chicago, IL – October 10, 2024 – Zacks.com announces the list of stock featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Tesla (TSLA - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Tesla Robotaxi Event: Are Shares Worth a Look?
Tesla 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.
Recent EV delivery results have come in well below our consensus expectations, with Tesla falling short in four consecutive periods.
Still, margin pressures have been the real driver behind any negative sentiment in recent quarterly releases, which have declined quite significantly over recent periods.
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.
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 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.’
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.