"This recent rally has finally pushed the stock into the green on the year with an 16.17% gain. Still, since hitting its all-time high on Dec. 17, 2024, the stock has fallen 7.80%. When the company reported in July, it announced that in Q2, revenues were down 12% year over year (YoY), EPS was down 23% YoY, operating income was down 42% YoY and vehicle deliveries fell to 384,122 - down 14% YoY."
"In June and July, the EV firm has experienced a series of price target revisions from analysts. Goldman Sachs raised its price target on TSLA to $315 from $285 while maintaining a "Neutral" rating. Benchmark raised its price target on TSLA to $475 from $350 while maintaining a "Buy" rating following the successful launch of Tesla's robotaxi business in Austin."
"Indeed, Tesla's stock has gone through vicious crashes before. And while the stock may not be ready to shift gears from reverse to forward, I do think that a worsening of its latest drawdown could prove a significant buying opportunity, given the chance its drivers could pay off at some point over the medium term. Undoubtedly, the bears may be winning the tug-of-war on the stock now, as"
Shares of Tesla recently rallied into positive year-to-date territory but remain below their all-time high after a 7.80% decline from that peak. Second-quarter results showed revenue down 12% YoY, EPS down 23% YoY, operating income down 42% YoY, and vehicle deliveries down 14% YoY to 384,122 units. The India launch produced only 600 orders. Analysts revised price targets up and down, with divergent ratings from Goldman Sachs, Benchmark, UBS, and Mizuho. The stock has experienced severe past drawdowns, which some view as potential medium-term buying opportunities amid rising competition and new entrants.
Read at 24/7 Wall St.
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