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tesla (NASDAQ:TSLA) will enter 2024 with a market capitalization higher than the valuations of Toyota Motor (TM), Stellantis (TSLA), Ferrari (RACE), Honda (HMC), General Motors (GM) and Ford Motor (F) combined. That means a vigorous debate between bulls and bears is likely to continue for another year. In addition to ramping up Gigafactory production, potential catalysts for the Austin-based company in the new year include the reveal of the company's next model, progress with FSD, government approval for manufacturing in India, a sharp rollback of margins, Cybertruck reactions and an ai Day. event that could show the potential of the Optimus robot and the overall advantage of Tesla's ai.
Stock performance in 2023
Tesla (TSLA) posted a gain of more than 130% in 2023 through December 22 to lead the auto manufacturing sector. EV stocks are trading above the 50-day, 100-day, and 200-day moving averages, while the Relative Strength Index is still above 50.
What quantitative measures say
Tesla (TSLA) receives a Hold rating from Seeking Alpha's Quant Rating system. Strong factor ratings on profitability, growth and momentum offset a low factor rating on valuation. TSLA's overall quantitative score ranks 10th among 32 publicly traded auto manufacturing stocks.
What Wall Street says
Sell-side analysts are somewhat mixed on Tesla (TSLA) in 2024. Of the 42 analysts with a rating on the books, 15 of them have a rating equivalent to Buy or higher, while 21 have a rating equivalent to Hold and six analysts have a Sell Rating on Tesla (TSLA).
What Searching Alpha analysts say
The latest articles from Looking Alpha analysts have been upbeat, including Bluesea Research's breakdown outlining why Tesla (TSLA) is well-positioned to grow its services business, while showing strong CAGR in revenue metrics due to a good product portfolio.
Latest earnings
In its most recent earnings report, Tesla (TSLA) reported that revenue increased 8.9% year over year to $23.35 billion. The Austin-based company generated $1.9 billion in GAAP net income during the quarter and $2.3 billion in non-GAAP net income. Tesla (TSLA) produced 430,488 vehicles and delivered 435,059 vehicles during the third quarter. The electric vehicle maker said a sequential decline in volume was due to planned downtime for factory upgrades.
Earnings predictions
Meanwhile, analysts expect the electric vehicle giant to earn $0.73 per share in the fourth quarter on revenue of about $25.56 billion. In the same period in 2022, Tesla (TSLA) earned an adjusted $1.19 per share and $24.3 billion in revenue.
Colleagues
Tesla (TSLA) is in tough competition on the pricing front in China with BYD Company (OTCPK:BYDDF), NIO (NIO), Li Auto (LI), and XPeng (XPEV) as more Tesla models continue to be launched. electric vehicles. In the US, General Motors (GM) and Ford Motor (F) have backed away from their aggressive EV targets, while Lucid Group (LCID) and Fisker (FSR) recently lowered their 2023 production forecasts. Rivian Automotive (RIVN) is growing at a faster rate than some of the other electric vehicle startups, but in some segments it is not a direct competitor to Tesla (TSLA).
