Tesla Stock Forecast 2023: Will Tesla Reach $350 in 2023?

Tesla Stock Forecast 2023: Latest Price

This article talks about some of the key Tesla Stock Forecast 2023 and also the questions, “Will Tesla Reach $350 in 2023” and “Is Tesla a Good Investment?” Also, check Tesla Stock Predictions by analysts.

About Tesla

Tesla is an American multinational automotive and clean energy company based in Austin, Texas. The company is focused on automotive and clean energy solutions.

Tesla was established in 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors, the company derives its name from Nikola Tesla, a renowned Serbian-American inventor and electrical engineer. Elon Musk assumed the roles of chairman and product architect at Tesla in 2004 and later became its CEO in 2008.

Tesla engages in the design, development, manufacturing, sales, and leasing of electric vehicles, along with providing battery energy storage systems spanning from residential to grid-scale, solar panels, solar shingles, and related products and services. Tesla Energy, a subsidiary, specializes in the development and installation of energy storage products.

Tesla is at the forefront of battery technology innovation, utilizing its batteries not only in its vehicles but also in products like the Powerwall home battery and the Megapack utility-scale battery.

Tesla is recognized as a major player in the automotive industry and is widely regarded as a pioneer in the shift towards electric vehicles. Moreover, the company plays a significant role in the clean energy sector, actively promoting the widespread adoption of renewable energy solutions.

Tesla Financials

Tesla Stock Forecast 2023: Latest News

  • Jim Cramer said if Tesla can outperform the downbeat Barclays outlook then shares will likely go higher. Barclays maintained an equal weight (hold) rating on Tesla with a price target of $260.
  • Tesla‚Äôs director of manufacturing at Giga Texas released the employment number at Tesla’s Texas Gigafactory. Tesla had over 12,000 employees at Gigafactory Texas by the end of last year. Now the company has over 20,000 employees in the Austin area this year with most of them being located at Gigafactory Texas. Tesla expects to ramp up to 60,000 employees by the time it has fully ramped up Cybertruck production at Gigafactory Texas.
  • Cathie Wood’s Ark Investment Management sold 62,367 Tesla shares for around $16 million Thursday. In a week ARK Invest sold over 170,000 Tesla shares.
  • Tesla unveiled the new design and features of its Model 3 Refresh. The project is known as “Project Highland”. The exterior of the Model 3 refresh has been updated with a new front bumper, new headlights, and new taillights. The interior of the Model 3 refresh has been updated with a new center console, a new steering wheel, and new materials. The new Model 3 refresh will come with a new heated steering wheel, a new heated windshield, and a new 12V outlet in the trunk.
  • Tesla is Giving Free Model 3 Performance to its Loyal Customers. Tesla is currently running a referral program where owners can earn a chance to win a free Model 3 Performance by referring their friends to buy a Tesla. To be eligible for a chance to win, the friend must order and take delivery of a Tesla vehicle between September 19, 2023, and September 30, 2023. Tesla owners can earn additional entries into the giveaway by referring more friends or by using their referral credits to redeem additional entries. Referral credits can be earned by referring friends to buy a Tesla, by test drive referrals, and by purchasing Tesla products. The winner of the giveaway will be announced on October 15, 2023. The Model 3 Performance costs $53,240.

Tesla Stock- Buy or Sell

Net Buy Rating = Buy% – Sell%

  • July 1st: +47.5%
  • August 1st: +61.2%
  • September 1st: +60%
  • September 22nd: +50.9%
  • September 23rd: +50.0%

Tesla Stock Forecasts

Tesla Stock Predictions 2023: Analysts

Tesla Target Price$264
UBS$290
RBC Capital$305
Morgan Stanley$400
Guggenheim$125
TD Cowen$200

Tesla Technical Analysis and Social Media Analysis

Tesla’s stock price closed lower once again on Friday which took the stock price below $250. Tesla closed nearly 5% lower on the last trading day.

On the 4-hour timeframe chart, the net Tesla stock price has fallen below its 50-day MA and now it is on the verge of crashing below 200-day MA. The 50-day MA is situated at $252.5 while the 200-day MA stands at approximately $238. The 200-day MA is a potential support level for the asset. On the upside the $280 price level is the resistance, however, the buyers will aim to push the Tesla stock price above its 50-day MA.

Tesla is currently displaying a bearish momentum, and this negative outlook is affirmed by the Relative Strength Index (RSI) of the Tesla stock. At the time of writing, the RSI stands at 34.93, trending in a southward direction. The waning buying pressure is evident as sellers have managed to outnumber the buyers in the market.

The Williams Percent Range (W%R) for Tesla stock is currently at -92.14. At a reading of -98.14, the asset is considered oversold, typically suggesting the potential for a reversal. However, given the prevailing momentum, it is expected that the W%R may decline further before a reversal takes place.

The trade recommendation for the Tesla stock is to sell. The MACD line has fallen below the signal line, and the volume histogram bars have started to increase on the negative axis.

Considering the overall technical indicators, Tesla is negative.

MetricValueTrend
Current Market Cap$793.7 BSteady
Trading Volume$90.1 MHigher
MetricLast 24 HoursTrend
Net Social Media Sentiment36.0%Higher

Tesla Stock Performance (Last 5 Years)

In the last 5 years, Tesla had the worst performance in 2020 with the average stock price falling below $100. However, despite the stock price doubling since January 2023, the average Tesla stock price in 2023 is now lower than what it was back in 2022.

The stock could likely experience further downtrend as the company is resorting to price price cuts which will directly impact the revenue. The scenario could likely create fear among the investors and could likely resort to selling rather than buying.

Tesla Stock Price Prediction 2023 to 2027: Crowdwisdom360 Aggregated*

  • Tesla Stock Price Prediction 2023 is $267
  • Tesla Stock Price Prediction 2024 is $335
  • Tesla Stock Price Prediction 2025 is $378
  • Tesla Stock Price Prediction 2026 is $452
  • Tesla Stock Price Prediction 2027 is $488

*Long-term forecasts are never perfect and usually unreliable as there are too many variables. Most of the time they may be correct directionally.

Tesla Stock Performance in the Last 12 Months

  • Last 1 Month: +16.1%
  • Last 6 Months: +52.8%
  • Year to Date (2023): +153.8%

Will Tesla reach $350 in 2023?

To reach above $350, Tesla will have to rise by $90 in the next 5 months. Aggregated forecasts suggest the base is in place to reach $300 this year itself. Here are some reasons why Tesla could reach $350

  • The macroeconomic environment is likely to improve later this year
  • Federal Govt support has helped Tesla drop prices
  • Competitors are now accepting Tesla charging standards
  • Other lines of business – Cybertruck, Energy Business

There are some risks as well

  • Tesla is giving up margin to garner additional sales
  • Chinese competition is rising (BYD for example)
  • Competition in the US is also rising

Tesla Q2 2023 Update

  • Total revenue grew by 47% YoY in Q2 to $24.9B.
  • Operating income slightly decreased YoY to $2.4B, resulting in a 9.6% operating margin.
  • Cash, cash equivalents, and investments increased sequentially by $0.7B to $23.1B in Q2, mainly driven by a free cash flow of $1.0B.
  • Record vehicle production and deliveries were achieved, with the Model Y becoming the best-selling vehicle globally in Q1.
  • Energy storage deployments increased by 222% YoY in Q2 to 3.7 GWh, due to the ongoing ramp of the first dedicated Megapack factory in Lathrop, CA.
  • Other Updates
    • The company plans to grow production as quickly as possible, aiming for around 1.8 million vehicles for 2023.
    • The Cybertruck is on track to begin initial production later this year at Gigafactory Texas.
    • The start of the production of Dojo training computers marked a significant stride in AI and software development.
    • Solar deployments remained flat due to a high-interest rate environment causing the postponement of solar purchasing industry-wide.
  • Why is the Operating Margin down?
    • Reduced Average Selling Price (ASP) due to mix and pricing
    • Cost of production ramp of 4680 cells and other related charges
    • Increase in Operating expenses driven by Cybertruck, AI, and other large projects
    • Negative Foreign Exchange (FX) impact

Reddit Commentary on Q2 Results

Based on the comments from the Reddit thread, the investor sentiment appears to be largely positive, with some neutral undertones. Here’s a breakdown:

Positive Sentiment:

  • Several users highlighted the promising long-term development of Tesla’s Energy Gross Margin (GM) outpacing auto GM. This suggests optimism about Tesla’s diversification into the energy sector.
  • The same automotive profit as the last quarter despite fewer regulatory credits, increased Energy GM, and EPS beat despite increased R&D expenses were seen as positive signs, indicating strong operational performance despite challenges.
  • The upcoming projects like the Cybertruck production and Dojo were mentioned as positive indicators, suggesting optimism about Tesla’s future prospects.

Negative Sentiment

  • There was a question about an unexplained line item of $328 million of “Other Income” added back into net income. However, this was not a widely expressed sentiment in the comments analyzed.

Twitter Analysis of Tesla’s energy sector’s financial performance – James Cat @TSLAFanMtl

  1. Tesla’s Average Selling Price (ASP) per MWh of energy storage has increased Quarter over Quarter (QoQ) from $393k to $413k, while energy costs per MWh have decreased QoQ from $349k to $336k, resulting in increased margins from 11% to 18.4%.
  2. Contributors expect increased energy sales in the future, driven by further cost reductions due to the ramp-up of production at Tesla’s Lathrop facility and a potential increase in ASP.
  3. Some participants believe that the Megapack product line could achieve more than 50% gross margins after tax credits, implying substantial potential for profitability.
  4. However, they note that other elements within the energy sector (such as Solar and Powerwall) are potentially dragging down the overall energy segment’s margins.
  5. A few contributors believe Tesla’s energy sector could eventually surpass its auto sector’s margins, especially as the company’s enterprise software and other ventures mature.
  6. Some caution is expressed regarding the timeline of these optimistic projections, with contributors suggesting that actual realization might take longer.
  7. There’s also a mention of potential margin suppression due to projects at various stages of completion – implying that full payments may not yet have been received for Megapacks delivered or in transit.

Tesla Stock Price Prediction: How High Will Tesla Go in 2023?

The Tesla stock reached its all-time high closing price of $409.97 on November 04, 2021. However, the stock has struggled to surpass the $400 mark since then. Despite this, Tesla’s shares have the potential for significant growth, benefiting from several positive factors. It is important to consider that certain factors could hinder the rise of Tesla stock. Here are some key factors that could contribute to the upward movement of Tesla stock in 2023:

  1. Growth of EV Market: Tesla is the leading electric vehicle manufacturer worldwide, and the global electric vehicle market is projected to experience significant growth in the upcoming years.
  2. Expansion of Tesla’s production capacity: Tesla is currently in the process of expanding its production capacity in various countries, such as China and the United States. This expansion aims to meet the rising demand for Tesla vehicles and could positively impact the company’s stock price.
  3. New Product: In 2023, Tesla plans to unveil several new products, including the Cybertruck and the Semi. The introduction of new products could attract more investors to Tesla.

Considering all these factors, Tesla is expected to reach $281 (the average of the 5 latest analysts’ forecasts) and the Crowdwisdom360’s Tesla Stock Price Prediction 2023 is $296.

Is Tesla a good stock to buy?

Yes, Tesla is a good stock to buy. Here is what is going in favor of Tesla

  1. Rapid growth potential: Tesla is the leading EV company and with the increasing popularity of electric vehicles and renewable energy the growth of Tesla as a company is likely unstoppable. Considering the growth potential of the company it is wise to invest in its stock.
  2. Outstanding R&D and Execution capability. The company has delivered numerous innovations and has produced its way around chip shortages quite efficiently. Tesla managed Chip shortages by replacing the chips with substitutes and rewriting its firmware. This enabled Tesla to manage production way more efficiently than most Manufacturers.
  3. Positive market sentiment: Tesla has a large and passionate fan base, and the company’s stock has a strong following among individual investors. This positive market sentiment can be a reason to invest in the stock.

Tesla Prediction 2023: Reasons Not to Buy Tesla Stock

  1. Interest rates and other economic factors: The Fed has increased rates many times even as there are no signs of the global economy recovering soon. While US inflation may continue to fall, an escalation in Ukraine could pose a huge risk to Global economies.
  2. Competition: The electric vehicle market is becoming increasingly crowded. Tesla faces competition from companies like Byd, Nio, Lucid, General Motors, Ford, Volkswagen, and others, which could potentially impact its market share and profitability. While Tesla is the undisputed leader of the EV market in the world, a range of competitors are lined up to take a bite out of Tesla.
  3. Regulations, fees, and fines: The electric vehicle market is subject to various regulations, including emissions standards and safety regulations. Changes in regulations could impact Tesla’s business and profitability.
  4. Volatility: Tesla’s stock price has been volatile, and it has historically traded at a high valuation relative to its earnings and revenue. The volatile nature of the Tesla stocks makes it less attractive as an investment.
  5. Production challenges: Tesla has faced production challenges in the past. If the company is unable to meet the demand for its products, it could impact its revenue and profitability.

Tesla Stock Forecast: Frequently Asked Questions (FAQ)

Should I buy Tesla Stock Now?

Investing in a stock is a personal decision that should be carefully considered. However, there are several factors to take into account when contemplating an investment in Tesla stock. These include:

  • Tesla’s fundamentals
  • The stock market environment
  • Personal investing goal
  • Company’s valuation
  • Risk of investing in the stock market
Will Tesla Stock Go Up?

2023 has been a favorable year for Tesla, although the stock has experienced significant volatility. To drive a surge in Tesla stock, several factors should be taken into account.

Firstly, the company continues to experience rapid growth.

Tesla is in a strong position to capitalize on the increasing demand for electric vehicles.

Tesla is a frontrunner in the advancement of autonomous driving technology.

However, it’s important to consider potential obstacles such as competition from other electric vehicle manufacturers, regulatory hurdles, and disruptions in the supply chain. These factors have the potential to impede the upward trajectory of Tesla stock.

How Much Will Tesla Stock Be Worth in 10 Years?

Predicting the stock price for the next 10 years can be complex, but based on the current momentum, it is anticipated that Tesla will be valued at approximately $1,500 in the next decade.

What is the best time to invest in Tesla stock?

The answer to this question is complicated as the investment is a personal choice, therefore there is no one-size-fits-all answer to this question. However, a few factors can be considered before making an investment in Tesla stock:

Tesla is well-positioned for future growth. Tesla is a leading electric vehicle manufacturer with a strong track record of growth. The company has also been expanding its production capacity and entering new markets.

The stock market has been highly volatile in the last couple of months. Therefore, better research is required before making an investment.

How long do you plan to hold onto your Tesla shares? If you’re looking to invest for the long term, then you may be less concerned about short-term fluctuations in the stock price. However, if you’re looking to sell your shares in the near future, then you may want to wait for the stock price to stabilize.

How High Will Tesla Go?

Tesla stock has a great potential to rise but the stock market has been widely affected by macro factors. As per our calculation, Tesla could break above $300 this year while by 2025 Tesla’s stock could be valued above $400. Tesla is expected to be valued at around $1200 to $1500 by the end of 2030. Ark Invest’s price target for Tesla in 5 years is $2000.

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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