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

Zacks Equity Research

Tesla (TSLA) closed at $231.43 in the latest trading session, marking a -0.69% move from the prior day. This move lagged the S&P 500's daily gain of 1.42%. Meanwhile, the Dow gained 1.42%, and the Nasdaq, a tech-heavy index, added 1.4%.

Coming into today, shares of the electric car maker had gained 1.5% in the past month. In that same time, the Auto-Tires-Trucks sector gained 1.16%, while the S&P 500 gained 0.38%.

TSLA will be looking to display strength as it nears its next earnings release. On that day, TSLA is projected to report earnings of -$0.13 per share, which would represent a year-over-year decline of 104.48%. Our most recent consensus estimate is calling for quarterly revenue of $6.61 billion, down 3.18% from the year-ago period.

TSLA's full-year Zacks Consensus Estimates are calling for earnings of -$3.16 per share and revenue of $24.83 billion. These results would represent year-over-year changes of -137.59% and +15.68%, respectively.

Investors might also notice recent changes to analyst estimates for TSLA. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 106, putting it in the top 42% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.


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