Benzinga conducted an investor survey on Tesla TSLA over the past week, with results being tallied ahead of the comapny's much anticipated earnings report. Investors remain bullish on the stock and see higher prices ahead.
Not Overvalued
51.5 percent of respondents do not believe that Tesla is overvalued at current prices, despite the nearly 300 percent year-to-date return of the stock. Further, 53.0 percent of respondents believe that it really doesn't matter if the stock is overvalued or not, highlighting its nature as a pure momentum stock.
In 12 months, respondents see the stock higher than where it currently is. A strong 70 percent of respondents see the stock higher in 12 months from where it currently is trading, while 27 percent see it lower and only 3 percent see the stock trading flat.
Related: Ahead of Earnings, Tesla ETFs Merit Attention.
Market Leader
Respondents were also questioned as to whether Tesla could become the market leader in the electric car industry. 72 percent of respondents believe that Elon Musk has what it takes to make this company the market leader, while 28 percent disagree.
Speaking of Elon Musk, the last question asked respondents their thoughts on Elon Musk, specifically if his other ventures, including SolarCity SCTY could hinder the progress of Tesla. 80 percent of respondents believe that no, his other ventures will not hinder the growth of the car company while 20 percent disagree.
Earnings On Tap
Tesla is expected to report earnings after the bell today. For a short preview of earnings, read more here.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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