)'s earnings report after the close on Tuesday, which fell short of analyst expectations, Wall Street is witnessing a downward revision in stock targets for the electric vehicle giant. The post-earnings period has prompted a reevaluation of Tesla's performance and outlook, leading to a shift in sentiment among investors and analysts alike.Tesla reported first-quarter EPS of $0.45, $0.04 worse than the analyst estimate of $0.49. Revenue for the quarter was $21.
Despite investor concerns and reports that the EV maker could scrap plans for a cheaper EV, Tesla touted the launch of new models. “New, fuller information from management helped to at least partially solidify both the near-term and longer-term earnings trajectories of the firm — that had been so muddied over the last few weeks,” said Canaccord.