Tesla TSLA Stock Forecast and Price Target 2024

These dynamics can be influenced by fundamental factors, such as earnings announcements, new product launches, acquisitions and mergers, and other factors. The TSLA stock price can also be influenced by market sentiment, broader economic conditions, interest rates, inflation rates and political developments. Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Tesla’s stock price action in 1-hour chunks. Each candlestick will display TSLA’s opening price, closing price, as well as the highest and lowest prices that Tesla reached within the 1-hour period.

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2. According to the issued ratings of 34 analysts in the last year, the consensus rating for Tesla stock is Hold based on the current 8 sell ratings, 17 hold ratings and 9 buy ratings for TSLA.
3. In addition, Tesla analysts are calling for 21.4% revenue growth in 2023 and 23.2% growth in 2024.
4. Going forward, consumers will have more choice in electric vehicles as other automakers increasingly look to win a piece of the EV market.

Despite those challenges, Tesla still has good growth prospects. But as competition heats up, its growth trajectory may be tempered relative to the company’s history. It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite. Some charts will use hollow and filled candlestick bodies instead of colors to represent the same thing.

The Motley Fool owns shares of and recommends Tesla and Volkswagen AG. Get Forbes Advisor’s expert insights on investing in a variety of financial instruments, from stocks and bonds to cryptocurrencies and more. Compare Tesla’s performance to that of the Nasdaq Composite index, which tracks the performance of 3,000 stocks listed on the Nasdaq exchange. For comparison’s sake, we chose to use the Fidelity Nasdaq Composite Index Fund (FNCMX), an index fund that aims to mirror the price and returns of the Nasdaq Composite Index. Tesla did not pay out dividends in 2022, but that’s typical of a company focused on growth.

Tesla is also expanding its FSD beta testing to more drivers; that should help smooth the rollout of its FSD functionality. So by itself, there is not too much to read into this latest move, and the company’s long-term growth plans remain where intact. Let’s take a closer look at Tesla’s growth potential in the coming decade, and beyond.

Tesla Stock Forecast Based on Technical Analysis

The anticipation is that the price will hover near the support level for 2 days. The likelihood of this support level being breached is minimal, indicating a phase of stability for Tesla stocks. When considering an investment in Tesla, prospective investors often seek insights on its long-term performance.

Does Tesla Stock Usually Go Up After Earnings

Elon Musk has an approval rating of 79% among the company’s employees. Production totaled 430,488 units and deliveries were 435,059 units. The delivery total marks a 6.7% decline from the prior quarter, when the EV maker handed over 466,140 units.

Sales & Book Value

The actual future value of Tesla shares is subject to variables beyond predictive analytics. Tesla is a risky stock, but one that could play big rewards down the line. If Tesla can execute near-term product and feature launches while maintaining its market share without upending margins, the future will be bright. Longer-term, the energy business, driverless taxis and a cloud computing service using Dojo could end up justifying Tesla’s high price tag today. Moving averages are among the most popular Tesla stock prediction tools.

Instead of returning capital to shareholders, Tesla reinvests its earnings in future growth initiatives. In addition to fundamental factors, stocks are influenced by many other factors. For example,
it is worth monitoring all global forecasts for Tesla shares. Our service will help you with this,
in which we collect all forecasts and build one consensus forecast from them.

The company also generates revenue by selling excess EV credits to the business at large. In January 2023, via the fourth quarter Tesla stock earnings release, Musk noted that the company’s average selling prices had been declining for years. Despite that trend, Tesla had substantially improved its operating margin through cost control efforts. Progressing further, we have extrapolated these analytical insights to generate consensus forecasts for subsequent years.

In his view, steeper competition, factory shutdowns and launch delays put Tesla at risk of losing market share. When making a Tesla stock forecast, most traders use candlestick charts, as they provide more information than a simple line chart. 1-hour, 4-hour and 1-day candlestick charts are among the most popular. The newly created shares were issued to shareholders after the market closes on Thursday, August 25th 2022. An investor that had 100 shares of stock prior to the split would have 300 shares after the split.

Insight into Our Forecasting Process

The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action. Tesla stock traders use a variety of tools to make a prediction on which way the TSLA market is likely to head next. These tools can roughly be divided into indicators and chart patterns. Based on the current trends, our prediction estimates that the price of TSLA stock will increase by 0.00% in the next day. To get a better idea of what could happen to the TSLA stock price in the future, it’s helpful to also explore Tesla’s price history. In comparison with Bitcoin, Tesla stock performed -59.40% worse in the last year and -47.37% worse than Ethereum.

For long-term investors looking for a company that could deliver higher-than-usual returns, Tesla may be a good bet. While there have been hybrid vehicles and other attempts at electric vehicles, Tesla disrupted the industry with its all-electric vehicles that were sleek and powerful. And by using a direct sales model rather than dealerships, it appealed to buyers looking for an alternative to the traditional sales model. Morningstar analyst Seth Goldstein said Tesla is well-positioned to capture growth in the solar energy and battery storage markets. It’s also attempting to capture more of its customers’ auto-related spending by selling services such as insurance and autonomous driving software. Tesla’s biggest wild card in the next several years will likely come from outside the company.

Based on its expected growth rate, the company could be delivering 28 million cars annually 10 years from now. To be fair, extending management’s “multi-year” estimate to this https://g-markets.net/ story’s 10 years estimate is extrapolating beyond what the company has said. So let’s assume that its growth slows down to an average of 20% annually after five years.

The Model 3 even surpassed the Nissan Leaf in some markets as the best-selling EV. Tesla’s stock hasn’t set a new all-time high since November 2021. However, Tesla has seemingly regained its positive momentum in 2023 following a 65% drop in 2022, its worst year ever as a public company. It’s pivotal to remember that these forecasts ig sentiment indicator are to be utilized as informational resources and not definitive investment advice. The final investment decision rests solely upon the investor, contingent on their risk tolerance, investment goals, and thorough analysis of Tesla. The company has expressed a long-term goal of expanding vehicle production to 20 million by 2030.

From June 1, 2018, to June 1, 2023, the price of the FNCMX increased from $99.46 to $163.68—a 65% increase over five years. Tesla has faced challenges over the past 12 months, but it still has delivered significant returns over the last five years. Its total revenue was $81.46 billion, up $27.64 billion from the previous year. CFRA analyst Garrett Nelson said the Biden administration’s Inflation Reduction Act has been a tailwind for Tesla sales in 2023. Bank of America analyst John Murphy said growing EV demand creates a growth path for Tesla. “Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.