Tesla (TSLA) Up 1.18% While S&P 500 Falls -0.4%
By As of 10:39 AM on Wednesday, Feb 15, Tesla Inc (TSLA) stock has gone up by 1.18%, while the S&P 500 has dropped by 0.4[0] Tesla has risen by $2.47 from its previous closing price of $209.25, with 59,141,137 shares traded.[0] In the last twelve months, the S&P 500 dropped 6.41% while TSLA dropped 27.47%.[0] For each share, TSLA has earned $3.62 in the last 12 months, resulting in a price-to-earnings ratio of 58.45.[0] Analysts agree that the stock price of TSLA will go up by a maximum of 1.47% in the next 12 months, with a predicted target of $199.78.[1]
Tesla strives to speed up the shift to sustainable energy worldwide.[2] The company offers solar panels, solar roofs, and batteries for stationary storage, catering to both residential and commercial properties, including utilities.[0] Tesla's range of vehicles includes luxury and midsize sedans, as well as crossover SUVs. Tesla also plans to begin selling more affordable sedans and small SUVs, a light truck, a semi truck, and a sports car. In 2022, the total number of vehicles delivered globally was slightly more than 1.3 million.[3]
Tesla has seen an increase in both profits and income.[0] The quarterly gross profit increased from $4.847 billion at the end of 2021 to $5.777 billion at the end of 2022. The quarterly operating income increased from $2.613 billion on 31 December 2021 to $3.901 billion on 31 December 2022.
Tesla’s strong financial position puts it in a favorable position on “one clock.”[3] Levy stated that it is taking the lead in the transition to Electric Vehicles.[3] By lowering prices worldwide by approximately 20%, the company was able to gain a competitive advantage and capture a larger portion of the market from its competitors.[4] Tesla's success is largely attributed to its high profitability, which is the result of its efficiency and its ability to leverage economies of scale.[5]
Barclays analyst Levy wrote, “We are hard-pressed to see any company in the auto landscape as the ‘next Tesla,' as Tesla has been quite unique in its accomplishments. That said, if we were to identify any of the start-up EV automakers as the closest to Tesla, we believe it would be RIVN.
0. “Bullish Electric Vehicle Stock Alert: Tesla Inc (TSLA) Rises 1.18% Wednesday, Should You Buy?” InvestorsObserver, 15 Feb. 2023, https://www.investorsobserver.com/news/stock-update/bullish-electric-vehicle-stock-alert-tesla-inc-tsla-rises-1-18-wednesday-should-you-buy
1. “2 Laggards of 2022 are Outperforming in 2023; Should You Invest?” TipRanks, 13 Feb. 2023, https://www.tipranks.com/news/article/2-laggards-of-2022-are-outperforming-in-2023-should-you-invest
2. “Barclays Initiates Coverage of Tesla With Overweight Recommendation” 24/7 Wall St., 16 Feb. 2023, https://247wallst.com/investing/2023/02/16/barclays-initiates-coverage-of-tesla-with-overweight-recommendation/
3. “Barclays Plots Roadmap Of EV ‘Megatrends': Why Tesla Is King, Rivian Is Runner-Up And The Wheels Are Turn” Benzinga, 15 Feb. 2023, https://www.benzinga.com/analyst-ratings/analyst-color/23/02/30930197/barclays-plots-roadmap-of-ev-megatrends-why-tesla-is-king-rivian-is-runner-up-and-t
4. “I Called The Tesla Bottom At $100 – Here's Where I'm Buying Back In (NASDAQ:TSLA)” Seeking Alpha, 10 Feb. 2023, https://seekingalpha.com/article/4577284-i-called-the-tesla-bottom-at-100-heres-where-im-buying-back-in
5. “Tesla Investor Day is key to further stock growth, Morgan Stanley says” TESLARATI, 10 Feb. 2023, https://www.teslarati.com/tesla-tsla-investor-day-stock-growth-morgan-stanley/
