Fisker Stock Forecast 2023

Fisker Stock Forecast 2023: FSR is technically bullish. The FSR Stock Prediction for the next 12 months is $8.6.

Latest FSR Stock Price

Fisker Inc. develops, manufactures, markets, leases, or sale of electric vehicles. The company is also involved in the asset-light automotive business. It operates through The White Space, The Value Segment, and The Conservative Premium segments.

In addition, the company offers Fisker flexible platform agnostic design, a process that develops and designs electric vehicles in specific segment sizes. The company was incorporated in 2016 and is headquartered in Manhattan Beach, California.

FSR Stock Forecast: 12-Month Target

Fisker Stock Target$8.6
Morgan Stanley$4
Wolfe Research$6
RF Lafferty$12
Evercore ISI Group$15

Fisker Stock Forecast Today

UTC: Sep 25th, 2023 06:17 PM
Overall OutlookNeutral
1. Market's WisdomPartially Bearish
1a. Market DataBearish
1b. Technical RecommendationBuy
2. Crowd's WisdomNeutral
2a. Social Media BuzzSteady
2b. Social Media SentimentN/A

Fisker Stock Forecast: Recent Development

Electric vehicle startup Fisker said Monday that it spent less money in 2022 than it had expected and that it remains on track to begin deliveries of its Ocean SUV this spring and to build more than 40,000 vehicles in 2023.

Fisker said that to date, 56 Oceans have been built at manufacturing partner Magna International’s contract-manufacturing facility in Austria. Fifteen of those were completed before year-end and are being used for testing by both Fisker and Magna, as the two companies refine the manufacturing process, test additional features, and work through regulatory approval processes in the U.S., Canada, and Europe.

Fisker expects to complete the testing needed for regulatory approval of the Ocean next month and to ramp up production — and begin deliveries — in the second quarter. The company reiterated its previous production guidance — “up to” 42,400 vehicles in 2023 — “provided the supply chain delivers per our forecast and we receive [regulatory approval] in a timely manner.”

Fisker had “approximately 65,000” reservations for the Ocean as of Feb. 24, up slightly from “over 62,000″ as of its third-quarter earnings report in early November. Because it will be built in Austria, the Ocean won’t qualify for the new U.S. government EV incentives.

Read: Microsoft Stock Forecast 2023

Fisker Stock Forecast 2023: Macros

The Electric Vehicle sector has seen an upside in the last few decades despite the clashes in the supply chain during the Covid-19 times. Compared with 2020, sales nearly doubled to 6.6 million (an increase of nearly 9%), bringing the total to 16.5 million electric cars on the road today. The goal of net zero emissions by 2050 in different companies is also furthered through Electric Vehicles with an estimation that electric cars will soon comprise 60% of new car sales. Moreover, to reach the Net Zero Scenario, the sales share must increase by less than 6% per year.

A new trend in electric vehicles which might be favorable for the businesses in the sector will be a maturing supply chain that will assist the businesses to leverage these resources instead of producing everything in-house.

FSR Stock Forecast 2023: Fundamentals

Fisker released its quarterly results for the quarter ended 31st Dec 2022 as well as the annual earnings result for the year ended 2022. The Quarterly GAAP EPS of – $0.54 misses the consensus estimate by $0.16. Revenue of $0.31M (+675% Y/Y) misses by $0.71M.

Assuming an average monthly cash burn of about $45M, Fisker had $736.5M in cash on its balance sheets at the end of the December quarter, which I believe is enough to support operations for 16–18 months. Rivian and Lucid, who raised billions of dollars from wealthy investors to finance their production ramps, don’t have the financial sheets that Fisker possesses. PIF, the sovereign wealth fund of Saudi Arabia, supports and finances Lucid, whilst Ford and Amazon have sponsored Rivian. I think Fisker has adequate cash to finance the production ramp of the Ocean and Pear SUVs, despite the fact that its balance sheet is not as well financed as that of the other two businesses.

Fisker Stock Forecast 2023: Analysts’ Price Targets

  1. NASDAQ: Based on analysts covering FSR at NASDAQ offering 12-month price targets for FSR in the last 3 months. The average price target is $11.5 with a high estimate of $21 and a low estimate of $4.
  2. CNN: The 8 analysts over at CNN offering 12-month price forecasts for Fisker Inc have a median target of 10.00, with a high estimate of 21.00 and a low estimate of 4.00. The median estimate represents a +40.06% increase from the last price of 7.14.    
  3. WSJ: The analysts here at WSJ concluded their research with a high estimate of $21 and a conservatively low estimate of just $4, with the median being $10 and the average price standing at $11.05. All of the estimates except for the low estimate signal high buying potential as the stock stands to gain a lot.

Is Fisker (FSR) a Good Investment?

Fisker is an electric vehicle (EV) company that designs and manufactures sustainable electric vehicles. The EV industry is growing and it is set to be one of the biggest industries in the coming future. However, a few factors need to be considered before investing in FSR stock:

Competition: The EV market is highly competitive, with established players like Tesla, Ford, and General Motors, as well as other newer entrants like Rivian and Lucid Motors. Investors should consider how Fisker’s products and brand compare to those of its competitors.

Growth potential: Fisker has plans to launch its first EV, the Fisker Ocean, in 2023, and has announced partnerships with suppliers and manufacturers to help scale production. Investors should evaluate the potential market demand for Fisker’s products and the company’s ability to execute on its growth plans.

Industry trends: The EV market is growing rapidly, with governments around the world implementing policies to incentivize the adoption of electric vehicles. Investors should consider how these trends may impact the demand for Fisker’s products and the overall outlook for the EV industry.

Apart from these, the Financial performance of Fisker needs to be considered before investing in FSR stock. Here is how Fisker performed in 2022:

Dec 2022: Earnings: Miss -28.46% Revenue: Miss -69.93%
Sep 2022: Earnings: Miss -6.88% Revenue: Beat 879.02%
Jun 2022: Earnings: Beat 5.15% Revenue: Beat >9,999.00%
Mar 2022: Earnings: Miss -1.66% Revenue: Beat 20.00%

Fisker registered tremendous revenue growth in the first three quarters of 2022, but it missed both EPS and Revenue targets in 4th quarter. Overall Fisker is a good investment, however, before making an investment individual investors need to weigh the risks and potential rewards of investing in Fisker stock. Therefore, it is advised to make own research before investing in Fisker stock.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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