The auto making company is all set to release its earnings for the third quarter of November 3 and analysts seem to be bullish about the stock already
Tesla Motors has been scheduled to report earnings for the third fiscal quarter of the year and will be adding its sales figures in the earnings seasons on November 3. The auto making giant has been covered by a number of equity firms in the industry and has been rated according to the business activities it has been making in the recent times. Equity giant Baird has also rolled out a research and analysis on the earnings that the auto maker might possibly be reporting next week and the firm’s analysts are of the opinion that even though positivity can be expected for the near term, the company might not be attaining its full year aims with the kind of problems it has lately been facing.
The Baird analysts have, however, given a strong target for the Tesla share price which has been reported at $282. This shows the kind of bullishness that the stock of the hybrid car maker is being looked at presently, right before the giant actually releases its earnings. The same analysts have also mentioned in their research note that it is very probable that the total units of the new Model X might not be as much as the company first planned them to be, which could prove to be a disappointing factor for the investors.
According to the Street analysts, Tesla stock has received expectations to report revenue of around $1.26 billion for the quarter with a loss of around $65.3 million in the non-GAAP revenue. As for the margins that will be attained by the auto making company in the quarter, it is also estimated that they might be lower than the consensus predictions which have been made by all the equity firms and is to be reported at 22.9%.
If Bloomberg research data is to be considered, it will be seen that from the 22 equity companies which have run over a detailed research on the stock of the company, around 8 firms have presented the smart car manufacturers with a rating of ‘buy’ while the same number of analysts suggested a ‘hold’ status for the stock. The consensus price target, however, stands at $302.85.