Electric car manufacturer Tesla (TSLA) – Request report reports fourth quarter earnings after Wednesday’s closing bell. Tesla’s stock is up more than 100% since the company’s profit in the third quarter.
TheStreet is now blogging live about Tesla’s earnings call and Q&A webcast for the fourth quarter. Please join us!
Tesla was TheStreet’s number one “Stock of the Year” in 2020, after it surged year-round and joined the S&P 500.
The Palo Alto, California, company started at a record high this year when Wall Street responded to the automaker’s record deliveries of nearly 500,000 clean energy vehicles last year.
The sales figures of the tech giant in China will be closely monitored by investors.
Watch the Tesla Earnings Call
You can watch the Tesla earnings call on their investor relations live stream page where they will have a live webcast and replay. The webcast will begin at 6:30 p.m. ET.
You can ask questions to the Q&A section and read all the questions asked.
Analyst forecasts
Tesla is expected to report earnings of approximately $ 1 billion, or $ 1.04 a share, on revenues of $ 10.5 billion after market close on Wednesday, based on a FactSet survey of 22 analysts. That compares to earnings of $ 143 million, or 43 cents a share, and revenue of $ 7.4 billion in the same quarter a year ago.
How you trade Tesla
TheStreet founder Jim Cramer thinks the biggest driver behind Tesla’s recent gains has to do with its inclusion in the S&P 500, where there are “a lot of funds that have to keep buying it … and as stocks go up, this index. funds don’t sell it. They let it ride. “
Latest Tesla news
On Monday, shares of Tesla surged as analysts continued to roll out their expectations for even better days for the electric car maker ahead of fourth-quarter earnings.
Baird analyst Ben Kallo raised his price target for Tesla from $ 488 to $ 728 a share, saying that “the stock’s bias remains upward.”
“… seriously starting operations in Shanghai and delivering on sales promises [around] With 500,000 cars in 2020 from the past few years, Tesla is entering the next phase of its evolution, ”said Kallo.
Tesla will also benefit from President Joe Biden’s promise to focus on clean and renewable energy sources.
Last week, on Jan. 20, Deutsche Bank analyst Emmanuel Rosner raised his price target for Tesla from $ 705 to $ 890 as he expects government spending on infrastructure and vehicle electrification to increase under Biden’s new administration.
On January 15, Wedbush Securities analyst Daniel Ives raised his one-year price target for the electric vehicle manufacturer from $ 751 to $ 950, from $ 751, to reflect growing global demand for electric vehicles, particularly in China.
“The hearts and lungs of the Tesla bull thesis are centered around China as we have seen consumer demand soar in 2021, not only for Model 3s, but for impressive domestic competitors such as NIO NIO, XPeng XPEV, Li Auto LI and others, ”Ives said in a research note.
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