Tesla Inc TSLA shares are trading lower by 6.40% to $207.83 Thursday morning after the company reported worse-than-expected third-quarter sales results.
So What Happened?
Tesla reported third-quarter revenue of $21.45 billion, up 56% year-over-year. The total came in shy of analyst estimates of $21.96 billion. The company also reported automotive revenue of $18.69 billion in the third quarter, up 55% year-over-year.
In the third quarter, Tesla reported record revenue, free cash flow and operating profits despite what the company called “material headwinds.”...Read More
Tesla also received a number of analyst rating updates Thursday morning:
- Deutsche Bank analyst Emmanuel Rosner maintained Tesla with a Buy and lowered the price target from $390 to $355
- Wedbush analyst Daniel Ives maintained Tesla with an Outperform and lowered the price target from $360 to $300
- RBC Capital analyst Joseph Spak maintained Tesla with an Outperform and lowered the price target from $340 to $325
See Also: Why Alcoa Shares Are Falling Sharply During Wednesday's After-Hours Session
According to data from Benzinga Pro, Tesla has a 52-week high of $414.50 and a 52-week low of $204.16.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
