Increased Earnings Estimates Seen for Tesla (TSLA): Can It Move Higher?

Tesla, Inc. TSLA is a designer and seller of electric vehicles and energy generation systems that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on TSLA’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Tesla could be a solid choice for investors.

Current Quarter Estimates for TSLA

In the past 30 days, four estimates have gone higher for Tesla while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 55 cents a share 30 days ago, to 82 cents today, a move of 49.1%.

Current Year Estimates for TSLA

Meanwhile, Tesla’s current year figures are also looking quite promising, with nine estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $6.35 per share 30 days ago to $7.85 per share today, an increase of 23.6 %.

Tesla, Inc. Price and Consensus

Tesla, Inc. price-consensus-chart | Tesla, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 56.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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