Tesla Stock Forecast 2023-2027: Will Tesla Reach above $250 in 2023?
Tesla Stock Forecast 2023, 2025, and 2027: Read about short-term and long-term Tesla Stock Predictions.
Tesla Target Price for 2023 (Crowdwisdom360 Aggregated forecast) is $269
Tesla Target Price Next 12 Months (Average of Analyst forecasts) is $226
Latest Tesla Stock Price
Article Coverage: Tesla Stock Performance, Latest Tesla News, Tesla Technical Analysis Today, Analyst Forecasts, Aggregated Forecasts, Latest Tesla Video, Tesla Q1 Earnings, Tesla Latest Production Update, Reasons to Buy or Sell Tesla Stock, Tesla Investor Day Analysis, FAQs and Other detailed analysis
Tesla Stock Performance in the Last 12 Months, June 12th
- Last 5 Days: +10.7%,
- Last 1 Month: +44.4%,
- Last 6 Months: +34.8%,
- Last 12 Months: +2.0%
Tesla Stock Forecast 2023: Latest News, June 12th
- The White House announced that Tesla chargers would become eligible for substantial federal subsidies, provided they incorporate the Combined Charging System (CCS) connector. With an extensive network of over 25,000 Superchargers, this development enables Tesla to access a larger pool of funding while facilitating partnerships with other major automakers such as Ford and General Motors, who have already entered agreements to utilize Tesla’s EV charging network.
- In May, Tesla reclaimed its position as the top-selling brand of battery electric vehicles (BEVs) in the UK. The company achieved its highest monthly sales ever in the country, with a total of 3,439 vehicles sold. Among these, the Model Y accounted for 2,509 units, securing the ninth spot among the best-selling vehicles in the UK for the month. Year to date, the Model Y holds the seventh position among the best-selling vehicles in the country.
- Tesla will be producing 375,000 Cybertrucks a year. The company has announced plans to produce 375,000 Cybertrucks per year at its Giga Texas factory. The company has also said that it will have release candidates for the Cybertruck by late August.
- After Ford, General Motors announced to use Tesla charging network. The company said it would start by installing adapters in its Chevrolet Bolt EV and Bolt EUV models, and that it would eventually make the adapters available for all of its EVs.
- All versions of Tesla’s Model 3 sedan now qualify for the full federal electric vehicle tax credits, leading to a surge in investor bullishness. The change, confirmed by the federal government, allows buyers to benefit from a tax credit of $7,500. This makes the Tesla Model 3 RWD more affordable at a cost of $32,740, and additional incentives in certain states further reduce the price.
Tesla Stock Price Prediction: Technical Analysis, June 12th
General Motors recently joined Ford in agreeing to use Tesla’s electric-vehicle charging network. The decision of Tesla to allow other EV companies to use its network of Superchargers was welcomed by the White House. The White House has announced that Tesla chargers would become eligible for substantial federal subsidies provided they provide CCS connectors.
The news was welcomed by the market and Tesla stock extended its bullish run for the 11th consecutive day on Friday. This has been the biggest gain that Tesla stock registered since October 2022.
On the last trading day, Tesla closed over 4% higher and the stock is now on. the verge of breaking above $250.
Here is how Tesla Performed on the Last Trading Day
- Open: $234.86
- Close: $244.40
- Gain/Loss: +9.54%
- Market Cap: $774.62 B
Tesla is highly bullish and the investor’s interest in Tesla stock has grown since the Tesla’s investors summit. Tesla’s stock finished higher on Friday, marking the eleventh straight session of gains.
Tesla is technically overbought which means a reversal is on the card. However, with the current market sentiment towards Tesla, the stock price is set to surge further before a pullback happens.
On the 4-hour timeframe chart, the technical indicators have turned highly favorable for the asset. Recently, the 50-day MA of the Tesla stock formed a Golden cross with the 200-day Moving Average. The formation of Golden Cross in the 4-hour timeframe was a highly bullish indication for the Tesla stock.
The 50-day MA of Tesla stock is around $191 and the 200-day MA is $184. Tesla’s stock price is way above these two trends. The buyers have been driving the overall momentum. On Monday, the $250 price level will be the first level of resistance for the Tesla stock. The support for Tesla stock is around $230.
The Relative Strength Index of Tesla stock adds to its bullish momentum. The RSI at the time of writing is within the overbought territory indicating a selling opportunity. But with the buying pressure extremely high, a reversal is unlikely as the sellers have been completely outnumbered by the buyers.
The trade recommendation for Tesla is a buy. The MACD line on the MACD is above the signal line. Both the MACD line and the signal line are surging within the bullish axis. The green histogram bars have increased on the bullish axis. It adds to the positive market sentiment.
The Williams Percent Range for Tesla stock is -15.05. It indicates an overbought condition. The market sentiment is highly bullish.
Overall Tesla Stock is highly Bullish. Check the Crowdwisdom360 momentum indicators for Tesla below. This is updated once during the trading session and once at the end of the session.
Tesla Stock Forecast Today
|1. Market's Wisdom||Bearish|
|1a. Market Data||Partially Bearish|
|1b. Technical Recommendation||Sell|
|2. Crowd's Wisdom||Neutral|
|2a. Social Media Buzz||Lower|
|2b. Social Media Sentiment||Neutral|
Tesla Stock- Buy or Sell, June 12th
Latest Tesla Stock Video, June 12th
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Tesla Stock Price Prediction: Will Tesla Break above $250 in 2023?
To reach above $250, Tesla will have to rise 17% over the next 7 months.
Assuming EPS rises 20% over the next 6 months and PE reaches a yearly high of 61, Tesla would reach a max of $228 this year.
Further, Tesla’s stock price is also dependent on improving macroeconomics. At the moment, there is limited visibility on that count.
In sum, given the current company level and macro forecasts, Tesla is unlikely to reach $250. However, recent macroeconomic environments could still drag Tesla closer to $250 than we anticipate.
Tesla Stock Predictions 2023: Analysts
|Tesla Target Price 2023||$226|
Tesla Stock Price Prediction 2023 to 2027: Crowdwisdom360 Aggregated*, June 8th
- Tesla Stock Price Prediction 2023 is $269
- Tesla Stock Price Prediction 2024 or Tesla stock forecast 2024 is $334
- Tesla Stock Price Prediction 2025 is $377
- Tesla Stock Price Prediction 2026 is $451
- Tesla Stock Price Prediction 2027 or Tesla Price Target in 5 Years is $486
- Ark Invest’s price target for Tesla in 5 years is $2000
- Tesla stock price prediction 2030 will range between $1200 and $1500
*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 Future: Summary of Tesla Shareholders’ Meeting
Tesla held its 2023 annual shareholder meeting in Austin, Texas, on Tuesday. Tesla CEO Elon Musk made several key announcements at the company’s annual shareholder meeting on Tuesday. Here are some highlights:
- Cybertruck production: Musk said that Tesla will begin delivering its highly anticipated Cybertrucks this year, with a projected production capacity of 250,000 to 500,000 units annually once production ramps up. He also mentioned that he personally intends to use a Cybertruck as his daily vehicle.
- Economic outlook: Despite a challenging economic climate predicted for the next 12 months, Musk expressed confidence in Tesla’s long-term prospects. He suggested that the company will be well positioned compared to others, many of which may face bankruptcy.
- Model Y: Musk highlighted his belief that the Model Y will become the best-selling car globally this year. This indicates his confidence in the demand and popularity of Tesla’s compact SUV.
- Advertising: In a notable shift, Musk suggested that Tesla might consider experimenting with traditional advertising, a departure from their previous stance against it. The company plans to test out advertising strategies to assess their effectiveness.
- Drive unit: Tesla also revealed plans to develop a new type of drive unit that requires less silicon carbide and eliminates the need for rare earth elements. Additionally, the company aims to transition to a new low-voltage architecture in its vehicles, which would reduce the reliance on copper.
- Board appointments: JB Straubel, the former Tesla Chief Technical Officer (CTO) and current head of e-waste recycling firm Redwood Materials, was voted onto Tesla’s board as an independent director. This addition brings valuable expertise and experience to the company’s leadership.
Overall, the shareholders’ meeting provided insights into Tesla’s upcoming products, strategic decisions, and long-term goals, reinforcing its commitment to innovation and sustainability in the automotive industry.
Tesla Q1 2023 Earnings
- Earnings per share: 85 cents adj. vs 85 cents expected
- Revenue: $23.33 billion vs $23.36 billion expected
Tesla reported its earnings for the Q1 of 2023 and the company missed the revenue target narrowly. Tesla’s net income for Q1 was $2.51 billion, down 24% from last year, while GAAP earnings came in at 73 cents. Automotive revenue was$19.96 billion in the quarter, up 18% from last year. Tesla’s total revenue was up 24%.
Revenue: Tesla reported a 24% YoY increase in total revenue, reaching $23.3 billion, mainly driven by growth in vehicle deliveries and other business segments.
Operating Income: However, the company’s operating income decreased to $2.7 billion, with an 11.4% operating margin. This reduction was due to factors such as reduced average selling prices, higher raw material and logistics costs, and lower credit revenue.
Cash, cash equivalents, and investments increased by $217 million, amounting to $22.4 billion, primarily due to a free cash flow of $441 million.
Focus for the next few quarters
- Expanding production
- Investments in autonomy and vehicle software
- Keeping on track with growth investments.
- Growing energy storage production capacity at their Megafactory in Lathrop and have announced a new Megafactory in Shanghai.
During the announcement of the Q1 earnings, Elon Musk announced that the Tesla Cybertruck delivery event will be held in the third quarter of 2023.
Tesla Q1 Deliveries and Production
Tesla reported its deliveries and production data for Q1 of 2023 on Sunday, April 2nd. Tesla exceeded its Q1 of 2023 expectations. Here is a summary of Tesla’s Q1 Delivery and Production report:
- Tesla delivered 422,875 cars in the first 3 months of 2023.
- The delivery report shows a 36% increase in deliveries compared to the 310,048 reported during the same period in 2022.
- Tesla registered a 4% increase in deliveries when compared to the 405,278 deliveries in the last quarter of 2022.
- Tesla reported deliveries of 10,695 Model S and X vehicles.
- Tesla reported deliveries of 412,180 Model 3 sedan and Model Y crossover vehicles.
- In Q1 Tesla reported a total production of 440,808 vehicles.
- Tesla said it produced 19,437 Model S and X vehicles, and 421,371 of its Model 3 and Y vehicles in Q1 of 2023.
Overall Tesla beat both of its deliveries as well as the production estimates for the Q1 of 2023.
Check our other Stock Forecasts below
Is Tesla a good stock to buy?
Yes, Tesla is a good stock to buy. Here is what is going in favor of Tesla
- 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.
- 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.
- 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
- 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.
- 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.
- 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.
- 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.
- 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 beat 4th quarter earning estimates
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Tesla Stock Forecast: Frequently Asked Questions (FAQ)
Should I buy Tesla Stock Now?
Tesla has underperformed in 2022, with share price being about 46% lower since the start of the year. The main reason is Tesla shares are “expensive” in this high-inflation market. There were also issues in the supply chain, increasing production costs and below-par deliveries.
But a significant reason is also undelivered promises from CEO Elon Musk. A lot of promises are again made for 2023, and it will be again a test for the CEO to live up to the expectations. But Tesla is still not on the buy list for 2023, simply because it is overvalued and with a concrete future as long as Elon Musk does not lead from the front.
Will Tesla Stock Go Up?
Tesla shareholders did not have a good experience in 2022. The share price which initially reached over $400 started to retreat massively and now it is trading below $200. Multiple factors have contributed to the decline of Tesla’s share price which includes both Internal and external factors. Therefore, for Tesla’s stock price to go up the overall market condition needs to improve.
How much will Tesla Stock Be Worth in 10 Years?
Considering the volatile nature of the Tesla stock it would be highly difficult to predict the 10-year price of Tesla stock. However, taking the forecast by multiple platforms into consideration, 10 years from now, Tesla’s Stock price could be $687.
What is the best time to invest in Tesla stock?
The best time to invest in Tesla stock would be in the last week of January or after January 2023. The reason behind this is that the Q4 earnings report is expected to be released in the last week of January 2023. A positive report will help the Tesla stock rise while a negative report could take the share price to slide. Thus, the best time to invest in Tesla stock will be after the Q4 reports of Tesla are published.
How High Will Tesla go?
There is a wide range of long-term forecasts for Telsa price (TSLA). Some forecasts estimate Tesla to be worth 10-12 times higher in the next 8 years. Others are more conservative at 6-8 times over the next 8 years. Tesla has numerous advantages going for it – EV penetration is only going to increase, TSLA will play in more segments than currently present, and TSLA will enter new categories related to Tesla’s current strengths. On the other hand, risks include increased competition, supply chain issues, and global macroeconomic issues. Elon Musk’s Twitter ownership is also a potential risk at the moment.
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.