Tesla Stock Pulls Back To Late-August Lows: What's Going On?
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares fell over 5% in premarket trading following a disappointing Q3 earnings report. The company reported adjusted earnings per share of $0.66, below the $0.72 consensus estimate, and revenue of $23.35 billion, below the $24.1 billion consensus target. The auto gross margin fell to 16.3%, compared to an expected 17.7%. Tesla bull Daniel Ives reduced the price target for Tesla stock from $350 to $310.
October 19, 2023 | 11:17 am
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Tesla's Q3 earnings report missed expectations, leading to a drop in share price and a reduction in the price target from $350 to $310.
Tesla's Q3 earnings report missed expectations, with both earnings per share and revenue falling short of consensus estimates. This has led to a drop in the company's share price and a reduction in the price target, indicating a negative short-term impact on the stock.
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