(Reuters) – Cathie Wood’s Ark Invest said it expects Tesla Inc.’s share price to reach $ 3,000 by 2025.
Ark expects Tesla’s market capitalization to reach $ 4 trillion at best, according to a research note released here Friday.
The investment management firm set Tesla’s price target at $ 1,500 per share downward until 2025 and $ 4,000 per share downward.
Last year, Ark Invest said it expected the company’s shares to reach $ 7,000 per share, or $ 1,400 when it adjusted to its five-for-one division, in 2024.
Since last year, when Ark released its previous note on Jan. 31, 2020, Tesla shares rose up 400% to $ 654.87 at the close on Friday.
Ark Invest also increased the likelihood that the electric car maker will achieve fully autonomous driving within five years and said the company’s self-employed net revenue could reach $ 327 billion by 2025. It expects revenue from Tesla electric vehicles reach between $ 234 billion. and $ 367 billion in 2025.
Tesla is the largest shareholder in the $ 26 billion fund that is traded with ARK Innovation and fund operator Wood, Ark’s CEO, has been a bull for Tesla for some time.
Aakriti Bhalla reports in Bengaluru; edited by Jonathan Oatis