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Tesla (TSLA) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

In the latest trading session, Tesla (TSLA) closed at $227.45, marking a -0.93% move from the previous day. This change lagged the S&P 500's daily gain of 0.09%. At the same time, the Dow added 0.26%, and the tech-heavy Nasdaq lost 0.17%.

Prior to today's trading, shares of the electric car maker had lost 3.66% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 2.65% and the S&P 500's gain of 4.92% in that time.

Wall Street will be looking for positivity from TSLA as it approaches its next earnings report date. On that day, TSLA is projected to report earnings of -$0.14 per share, which would represent a year-over-year decline of 104.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.61 billion, down 3.18% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.16 per share and revenue of $24.83 billion. These totals would mark changes of -137.59% and +15.68%, respectively, from last year.

Any recent changes to analyst estimates for TSLA should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. TSLA currently has a Zacks Rank of #4 (Sell).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research