Tesla shares recovered 3.05% over the last five trading sessions after a prior 3.74% decline, and rose 7.58% over the past month despite weak Q2 results. Q2 revenue fell 12% year over year, EPS declined 23% year over year, operating income plunged 42% year over year, and vehicle deliveries dropped 14% to 384,122. The stock sold off about 9.5% after the earnings call. Analysts issued mixed price-target revisions, with several firms raising targets while one trimmed its target. Mounting EV competition, a Jeff Bezos-backed startup, and fading Musk-related hype cloud the outlook, and a deeper drawdown could create a medium-term buying opportunity.
TSLA remains down 20.60% from its year-to-date high on Jan. 15, and since hitting its all-time high on Dec. 17, 2024, TSLA is down more than 29%. When the company reported in July, it announced that in Q2, revenues were down 12% year over year (YoY), EPS was down 23% YoY, operating income was down 42% YoY and vehicle deliveries fell to 384,122 - down 14% YoY. After the earnings call, the stock sold off to the tune of 9.5% before bottoming the following afternoon.
Goldman Sachs raised its price target on TSLA to $315 from $285 while maintaining a "Neutral" rating. Benchmark raised its price target on TSLA to $475 from $350 while maintaining a "Buy" rating following the successful launch of Tesla's robotaxi business in Austin. UBS raised its price target on TSLA to $215 from $190 but maintained its "Sell" rating. Mizuho lowered its price target on TSLA to $375 from $390 while maintaining its "Outperform" rating.
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