Nasdaq TSLA Tesla

Tesla Inc surged past Wall Street estimates for quarterly revenue on Wednesday after the electric-vehicle maker delivered record units at higher prices.

Elon Musk on Wednesday urged a federal judge not to prevent him from publicly discussing a lawsuit accusing him of deceiving Tesla Inc shareholders by tweeting in 2018 about taking his electric car company private.

The tech-heavy Nasdaq closed down on Wednesday, weighed by streaming giant Netflix's surprise drop in subscribers which shook investor confidence in other high-growth companies, fearful they may face similar post-pandemic performance issues.

Technology stocks were hanging on for narrow gains this afternoon, with the SPDR Technology Select Sector ETF (XLK) rising 0.2% although the Philadelphia Semiconductor Index was slipping 0.1% in late trade.

Elon Musk on Wednesday urged a federal judge not to prevent him from publicly discussing a lawsuit accusing him of deceiving Tesla Inc shareholders by tweeting in 2018 about taking his electric car company private.

The tech-heavy Nasdaq fell on Wednesday as streaming giant Netflix's first drop in subscribers in a decade shook investor confidence in other high-growth companies, fearful they may face similar post-pandemic performance issues.

The tech-heavy Nasdaq declined on Wednesday as streaming giant Netflix's first drop in subscribers in a decade pushed investors to dump other high-growth companies which may face similar post-pandemic performance issues.

The following companies are expected to report earnings after hours on 04/20/2022. Visit our Earnings Calendar for a full list of expected earnings releases.Tesla, Inc. (TSLA)is reporting for the quarter ending March 31, 2022. The auto (domestic) company's consensus earnings pe

Earnings season is upon us once again, and once the bell rings to signal an end to Wednesday’s trading (April 20), Tesla (TSLA) will step up to the earnings plate.

Ahead of the print and subsequent earnings call, there are several issues Morgan Stanley’s Adam Jonas thinks investors should pay attention to.

While the analyst notes that demand is obviously not a problem for Tesla right now, supply and input costs are. Supply constraints have yet to abate, while to “offset” rising input costs, Tesla has increased the prices of its vehicles.

Volume wise, Jonas anticipates Tesla will deliver 1.460 million units in FY22 (amounting to 56% year-over-year uptick), although meeting that target appears “increasingly dependent” upon China, with the country having seen a “confluence of strong demand and COVID-related disruption.”

Helping to reduce the company’s dependence on China for “volume and profitability longer term,” and dilute Freemont’s “contribution” to total units, production has kicked off at both the Berlin and Austin facilities.

“That’s great,” says the 5-star analyst. “But that doesn’t mean investors should not expect significant issues with the initial ramp-up of both factories in the normal course.”

Rising costs have also affected lithium prices, with Musk recently commenting these have reached ‘insane’ levels, whilst adding Tesla might need to become involved with lithium mining/refining. Although that is not completely out of the question, Jonas assumes the company would not want “direct exposure to the environmental/tailings risk related to mining operations.”

There’s also the prospect of the company becoming a “renewable energy on-shore infrastructure play” and Jonas ponders on Tesla’s strategy around ESS (energy storage systems) battery production.

Looking far ahead, Jonas’ current expectation is that by 2040 Tesla ESS accounts for less than a 1% share of this “potential market.” However, once the company proves its ability to “produce a higher volume of batteries (supplied by greater amounts of domestically produced/securely sourced batteries),” the analyst anticipates it will provide “greater disclosure and strategic attention” on the ESS angle.

So, down to business, what does it all mean for investors? All in all, there’s no change to Jonas’ Overweight (i.e. Buy) rating or $1,300 price target. This target conveys his confidence in TSLA's ability to climb ~32% from current levels. (To watch Jonas’ track record, click here)

Looking at the consensus breakdown, Tesla’s Moderate Buy consensus rating is based on a mix of 15 Buys, 5 Holds and 6 Sells. The Tesla bears, though, are having a big impact on the average price target; at $1,006 and change, the figure implies shares will remain rangebound for the foreseeable future. (See Tesla stock forecast on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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