Tesla Motors Inc (TSLA) Edging Upward Again

Tesla Motors Inc (TSLA) Edging Upward Again
Blomst / Pixabay

Tesla Motors Inc (NASDAQ:TSLA) and other momentum stocks appeared to be gaining ground again today, although most remain significantly off their year to date highs as investors have begun to shift more toward value stocks. Tesla stock has dipped below the $200 mark just a couple of times since first passing it in February, suggesting that $200 may be a key bottom number. So does this mean the automaker is losing its momentum status? One Seeking Alpha contributor suggests that it is.

What to expect in Tesla’s earnings

Tesla Motors Inc (NASDAQ:TSLA) is scheduled to release its next earnings report next week. On average, analysts expect the automaker to report earnings per share of 12 cents on $700.22 million in revenue. In terms of guidance, they want to see around $181.69 million in revenue for the current quarter. Anything shy of those numbers is likely going to be a major disappointment for Wall Street, as investors have pretty much gotten used to earnings beats.

Consistency is what makes the top 50 best-performing hedge funds so strong

Every month and quarter, multiple reports on average hedge fund returns are released from several sources. However, it can be difficult to sift through the many returns to uncover the most consistent hedge funds. The good news is that Eric Uhlfelder recently released his "2022 Survey of the Top 50 Hedge Funds," which ranks the Read More

As Seeking Alpha writer notes, the big catalysts surrounding Tesla Motors Inc (NASDAQ:TSLA)’s earnings report will likely be the commentary rather than the numbers themselves. They will want to hear more about plans for the gigafactory. Details have slowly been coming out, as recently CEO Elon Musk said they would be starting out developing two different sites in two different states. He said this will ensure that one of them is ready to go as soon as they need it.

Is Tesla still a momentum stock?

The writer argues that investors may no longer see Tesla Motors Inc (NASDAQ:TSLA) as a momentum play because they believe the automaker will actually be able to hit its targets. Tesla has been on a roll recently, hitting or exceeding each of its targets for the last four quarters at least. Management clearly became a bit more cautious after the automaker missed its production targets in 2012.

Contributor Quoth the Raven believes Tesla Motors Inc (NASDAQ:TSLA) does deserve its lofty valuation if it keeps moving forward with significant progress each quarter. Indeed, investors and this writer seem to be placing a lot of stock, so to speak, in Musk’s ability to execute.

Updated on

Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at Mjones@wordpress-785388-2679526.cloudwaysapps.com.
Previous article Spin-Off Leads to Dismal Day for Sallie Mae on Wall Street
Next article Dan Loeb Targets Dow Chemical In Latest Letter To Investors

No posts to display