Tesla reports earnings this afternoon. Traders share whether it's a buy here

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Tesla reports earnings this afternoon. Traders share whether it's a buy here (via TradingNation)

Morgan Stanley is sticking by the stock. Analyst Adam Jonas increased his price target to $900, implying 23% upside. The stock closed Friday at $729.40.

All this came ahead of earnings out Monday afternoon. Analysts expect profit of 75 cents a share in its March-ended quarter, up from 25 cents a year earlier. according to FactSet. Sales are forecast to have grown 75% to $10.48 billion. Danielle Shay, director of options at Simpler Trading, says recent bad news surrounding the company has kept a lid on the stock.

"That's actually putting it into a great position going into the earnings report. If you look at the way that Tesla has behaved on earnings — yes, last quarter they did pull back after earnings, but that was after doubling the stock price throughout the quarter — prior to that, we've seen Tesla trade higher on earnings," Shay told CNBC's "

 

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