“With TSLA announcing shipments of ~22.2k cars in 4Q16, we are expecting a better- than-feared trade over the next couple of days. While the company missed its 4Q16 shipment guidance by over 10% for the quarter, we believe expectations had dropped significantly below guidance due to media reports of slow sell-through. We anticipate investors will now shift focus to the Gigafactory ramp, timing of Model 3 production, and the company’s ability to generate cash from operations. We continue to be cautious about potential margin drag given simultaneous Model 3 and Gigafactory ramp plus purchase commitments for solar modules from its Buffalo facility.”
According to TipRanks.com, Rusch is a 4-star analyst with an average return of 7.1% and a 46.9% success rate. Rusch covers the Technology sector, focusing on stocks such as Trimble Navigation Limited, SolarEdge Technologies, and Ultra Clean Holdings.
Currently, the analyst consensus on Tesla Motors is Hold and the average price target is $225.67, representing a 4.0% upside.
In a report issued on December 20, KeyBanc also maintained a Hold rating on the stock.
Based on Tesla Motors’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $2.3 billion and quarterly net profit of $21.88 million. In comparison, last year the company earned revenue of $1.21 billion and had a GAAP net loss of $320 million.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TSLA in relation to earlier this year. Most recently, in December 2016, Stephen Jurvetson, a Director at TSLA sold 56 shares for a total of $11,323.
Tesla Motors, Inc. engages in the designing, development, manufacturing and selling of electric vehicles and electric power train components. Its products include electric vehicles such as the Model S, Model X and the Tesla Roadster. The company was founded by Jeffrey B. Straubel, Elon Reeve Musk and Marc Tarpenning on July 1, 2003 and is headquartered in Palo Alto, CA.