Tesla investors are closely watching for insights on Cybercab production and autonomous driving advancements.
In the second quarter results, Elon Musk stated that they planned to start production of new vehicles in the first half of 2024. The company increased its vehicle deliveries in the first quarter of the year, delivering 462,890 vehicles. However, this figure was slightly below the 463,897 units expected by analysts.
While it is seen that the consensus expectation for Q3 fell by 15%, this figure can be seen to be in line with the $25.5 billion revenue in the previous quarter. Still, the expectation is higher than $23.35 billion in the same period last year.Earnings per share expectation for Tesla is estimated at $0.6 before the earnings report, down 45%. While the EPS expectation is higher than the previous quarter, it is estimated to remain below the same period last year.
This predicts that the stock is currently moving at fair value. In addition, the consensus view of 43 analysts on the platform shows the short-term price forecast for TSLA at $210.While it started a trend reversal in the second quarter of the year, it had quite volatile price movements in this process.