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Tale of the Tape

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Why Tesla (TSLA) Could Be Positioned for a Surge?

TSLA

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Tesla Motors, Inc. (TSLA - Free Report) is an Auto Manufacturer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on TSLA’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Tesla could be a solid choice for investors.

Current Quarter Estimates for TSLA

In the past 30 days, 1 estimate has gone higher for TSLA with no downward revision in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 10 cents a share 30 days ago, to a loss of 7 cents today, a move of 30.0%.

Current Year Estimates for TSLA

Meanwhile, Tesla’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from 61 cents per share 30 days ago to $1.35 per share today, an increase of 121.3%.

Bottom Line

The stock has also started to move higher lately, adding 39.0% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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