Manufacturer of electric cars Tesla (TSLA) – Get the report will report fourth-quarter earnings after Wednesday’s closing bell. Tesla shares are up more than 100% from the company’s third-quarter profits.
TheStreet now blogs live Tesla’s fourth-quarter earnings call and Q&A online broadcast. Join us!
Tesla was TheStreet’s number one “Stock of the Year” in 2020 after rising year-round and joining the S&P 500.
The Palo Alto, California-based company started this year at an all-time high, as Wall Street reacted to the record total net energy delivery of nearly 500,000 vehicles last year.
The sales figures in China of the technology giant will be closely monitored by investors.
Look at Tesla’s profit call
You can watch Tesla’s earnings call on its investor relations live streaming page, where they can do a live broadcast and a live replay. The internet broadcast is scheduled to begin at 6:30 p.m. ET.
You can submit questions in the questions section and read any of the questions that are asked.
Analysts’ forecasts
Tesla is expected to report earnings of about $ 1 billion, or $ 1.04 per share, on sales of $ 10.5 billion after closing the market on Wednesday, according to a survey of 22 FactSet analysts. That compares to earnings of $ 143 million, or 43 cents a share, and sales of $ 7.4 billion in the previous year’s quarter.
How to Swap Tesla |
The founder of TheStreet, Jim Cramer, believes that the main driver of Tesla’s recent gains is related to its inclusion in the S&P 500, where there are “many funds that should continue to buy it … and as stocks increase , these indexes the funds don’t sell it, they let it mount “.
Latest Tesla news
On Monday, Tesla shares rose as analysts continued to roll out their expectations for even better days for the electric car maker ahead of fourth-quarter earnings.
Baird analyst Ben Kallo raised his price target for Tesla to $ 728 per share from $ 488, saying “the stock bias continues to rise.”
“… seriously launching Shanghai operations and fulfilling sales promises [around] With 500,000 cars in 2020 for years, Tesla is entering the next stage of its evolution, ”Kallo said.
Tesla will also benefit from President Joe Biden’s promise to pivot toward clean, renewable energy sources.
Last week, on January 20, Deutsche Bank analyst Emmanuel Rosner raised its price target for Tesla to $ 890 from $ 705 as it expects the new Biden administration to increase government spending in infrastructure and vehicle electrification.
On Jan. 15, Wedbush Securities analyst Daniel Ives raised the one-year target price for the electric vehicle maker to $ 950, from $ 751 to reflect growing global demand for electric vehicles, especially in China.
“The heart and lungs of Tesla’s bull thesis center around China, as we have seen consumer demand soar until 2021 not only for the Model 3, but for impressive domestic competitors like NIO NIO, XPeng XPEV, Li Auto LI and others, ”Ives said in a research note.
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