From Nasdaq: 2024-12-10 09:38:00

Tesla (NASDAQ: TSLA) has made a remarkable comeback, climbing 57% year-to-date and ranking as the 45th best-performing stock in the S&P 500. The company faced challenges earlier in the year, including a global workforce reduction and a decline in deliveries, but regained investor confidence with strong Q3 earnings.

Tesla’s Q3 2024 earnings report showed revenue slightly below expectations at $25.18 billion but beat analyst forecasts with earnings per share of $0.72. Operational highlights included record-low costs per vehicle, a robust operating margin, and a 6.4% increase in vehicle deliveries year-over-year, demonstrating efficiency and resilience.

Analysts are optimistic about Tesla’s future, with price targets rising and upgrades from Bank of America and Stifel Nicolaus. The company’s focus on robotics, artificial intelligence, and the announcement of the Model Q for the Chinese market have driven this positive sentiment, positioning Tesla for a strong finish to 2024.

As Tesla nears the $400 mark and continues to innovate, expand its product lineup, and invest in new technologies, the company’s future trajectory remains promising. Analysts may adjust their outlooks further as Tesla demonstrates sustained progress, with a focus on whether the stock will break through the $400 level and approach its all-time high in the coming weeks.



Read more at Nasdaq:: Tesla’s Closes in on $400: From Laggard to Leader in 2024