Nasdaq TSLA Tesla

Seeing is believing, the old saying goes, and expectations were sky-high for Tesla’s ( NASDAQ:TSLA ) We, Robot’ event last week. However, despite the high hopes, Tesla stock has continued its downward trend in 2024 – a particularly painful development given the broad market gains during the same period. Pushed back from its initial date of August 8th to October 10th, investors were hoping to see signs of major advances in TSLA’s cybercab and its full self-driving (FSD) technology. As expected, Elon Musk revealed the much-anticipated Cybercab, set to debut before 2027 with a price tag of $30,000. He also showcased a prototype of the Robovan, a vehicle designed to transport up to 20 passengers in urban settings – although the timeline and pricing were not detailed. In addition, a group of Optimus robots performed a dance for the spectators. Despite the hoopla, investor James Foord was not thrilled with the 30-minute presentation. “Tesla’s Robotaxi event was underwhelming, with no verifiable evidence that timelines for FSD or new products are achievable,” Foord opined. While seeing the company vision is one thing, Foord (and others) were looking for “verifiable evidence” that Tesla will be able to meet its stated goals. In addition, the investor did not see any proof that the company had been able to make significant advances with FSD over the past few months. “We need to see an actual product hit the market, and the latest deadlines have to be met. Not doing so will be incredibly detrimental to investor confidence,” the investor added. Still, Foord is not quite ready to give up on Tesla just yet, and points to a number of strategic advantages working in the company’s favor. “For starters, FSD has driven way more miles than any of its competitors,” Foord noted, adding, “I do believe the technology is there.” Another major feather in Tesla’s cap is its “vertically integrated supply chain,” which gives the company the capacity to scale up fast. The investor also cites Tesla’s spare inventory and the current crop of Teslas that could quickly augment a robotaxi fleet. The investor’s patience has a limit, however. “I am giving Tesla one more year to produce something tangible, or I will be out of the stock,” writes Foord, who is downgrading Tesla to a Neutral rating.  (To watch Foord’s track record, click here) Foord isn’t alone in his disappointment. Wall Street’s sentiment toward Tesla shares seems lukewarm, with 11 Buy, 16 Hold, and 8 Sell ratings, making the stock a consensus Hold (i.e. Neutral). With a 12-month average price target of $207.83, the stock is expected to decline by ~5%. (See TSLA stock forecast ) To find good ideas for stocks trading at attractive valuations, visit TipRanks’  Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured investor. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

Last Thursday night, electric vehicle (EV) pioneer Tesla (NASDAQ: TSLA) unveiled its much-anticipated robotaxi -- actually, 21 of them -- called the Cybercab. The two-seater vehicle suggested a Tesla Model 3 in the front and the futuristic-looking Tesla Cybertruck in the rear. It

Uber Technologies, Inc. (UBER), the global leader in the ridesharing industry, faces a new threat as Tesla (TSLA) readies its robotaxi launch. The EV giant is eyeing market share in the booming ridesharing market. With that said, I believe that Uber is well-positioned to grow sustainably despite robotaxi competition. Uber itself has been embracing autonomous driving to offer competing services at a much larger scale compared to Tesla. However, I am ultimately neutral on Uber stock at the current price, and I believe the company’s current valuation accurately reflects the expected growth of the company. Tesla Is a Long Way Behind Uber I believe that stellar growth expectations for Uber are justified, and that Tesla has a lot of catching-up to do before posing a meaningful threat to Uber’s well-established business. Tesla, the largest EV maker in the United States, aims to commercialize robotaxis and enter the ridesharing industry. Revealing the company’s plans during the first-quarter earnings call last April, CEO Elon Musk claimed that Tesla will emerge similar to a combination of Airbnb, Inc. (ABNB) and Uber in the long run. Musk signaled that Tesla plans to allow Tesla owners to rent their vehicles to be used as robotaxis. However, during the highly anticipated robotaxi launch event last week, Tesla did not provide any information regarding the production details for robotaxis, leaving many to suspect that mass production is years away. Tesla’s robotaxi launch event did not impress many Wall Street analysts either. Commenting on Tesla’s aspirations to threaten Uber, Jefferies analyst John Colantuoni said that the EV maker is yet to disclose verifiable evidence of progress toward Level 3 autonomous driving. That suggests the company is still a long way away from commercializing the technology. In addition, the Jefferies analyst noted that Tesla will struggle to build a meaningful fleet of autonomous vehicles to threaten Uber due to major challenges related to technological developments, asset ownership, fleet management, pricing, and routing. Uber, with expertise in all these areas, is well-positioned to bring autonomous taxis faster to market through strategic partnerships with other automakers and AV platforms. Uber has already secured several high-profile partnerships in pursuit of AVs. These partnerships include a deal with Waymo to offer autonomous ridesharing in Austin and Atlanta by early 2025, a partnership with General Motors Company (GM) to launch autonomous taxis with the use of Cruise driverless rides, and an investment in Wayve to gain access to Embodied AI technology which is used in developing AVs. Furthermore, a new deal with BYD Company Limited (BYDDF) should expand Uber’s electric vehicle fleet by 100,000 units and offer autonomous rides. Aided by these strategic partnerships and investments, I believe that Uber is likely to offer autonomous ridesharing services at scale before Tesla even begins to enter the market. Uber Will Likely Be a Big Winner in Autonomous Vehicle Growth In addition to Uber’s head start in autonomous driving efforts, I am encouraged by the company’s unique positioning in the ridesharing market. That combination should help it emerge as a big winner in the expected growth of autonomous vehicles, despite the fact that I don’t see much share price upside. Uber’s massive scale makes it the ideal platform for autonomous vehicle makers to partner with and offer driverless taxi services. During the Q2 earnings release, Uber demonstrated how its platform can efficiently match AV fleets with riders who are interested in driverless taxis, enabling automakers to utilize their AV fleets to achieve the best possible unit economics. Uber also highlighted how partnering with an established ridesharing platform should reduce the operating costs of an AV maker, by allowing the automaker to focus solely on advancing their AV technology. Meanwhile, Uber’s platform for monetization is already established. Uber should benefit from improved operating efficiency as it embraces autonomous vehicles. By eliminating the need for human drivers in approved markets, Uber may offer rides at a substantially discounted price in the future, attracting more users to the platform. The company may also use AVs for food, grocery, and parcel delivery services, leading to a meaningful expansion in profit margins by eliminating the costs associated with drivers. Uber Enjoys a Long Growth Runway The favorable macroeconomic environment enjoyed by Uber is another reason behind my expectations for robust long-term earnings growth, despite my neutral stock rating. According to Fortune Business Insights, the global ridesharing market will likely grow at a stellar CAGR of 18.5% through 2032, reaching a value of $480 billion. The continued rise of smartphone usage in developing regions, environmental concerns, and urbanization that has led to overcrowded roads, are among the main growth drivers of this industry. Uber, as the largest player in this sector with a diversified product offering, is well-positioned to convert these positive industry trends into tangible financial results. Uber’s strategic decision to offer localized ridesharing options such as motorbikes in Brazil and Southeast Asia should help the company solidify its market leadership in the long run. In addition to expansion in the ridesharing market, Uber’s diversification into delivery services will also help the company grow. Uber Eats, the food delivery service, is now available in more than 45 countries, and the company is aggressively expanding its coverage by onboarding more restaurants. Is Uber a Buy, According to Wall Street Analysts? Wall Street analysts seem to agree that Uber will benefit from autonomous vehicle growth. Bank of America analyst Justin Post, after digesting Tesla’s robotaxi announcement last week, claimed that the rapid growth of AVs will increase the value of Uber’s network as AV companies try to monetize their technology. As noted earlier, Jefferies analyst John Colantuoni is also bullish on Uber despite the robotaxi threat. Based on Wall Street analysts who offer 30 Buy ratings and one Hold, TipRanks classifies UBER stock as a Strong Buy. Meanwhile, the average UBER price target of $89.31 points to potential upside of ~8% as compared to the current market price. Although I have a positive outlook for Uber’s earnings growth, I believe the stock is fairly valued at a forward P/E of 38x. The limited upside potential implied by Wall Street analysts also suggests that Uber is appropriately valued already. Although there is the potential for a further expansion in earnings multiples, betting on such an outcome seems risky here. Takeaway Uber is a wonderful business, and offers defensible traits even in the wake of increased competition from EV giant Tesla. Although the EV maker has an ambitious plan to dominate the ridesharing industry, dethroning Uber will be easier said than done. Investors shouldn’t overlook the competitive advantages enjoyed by the Uber, and they don’t appear to be. While I believe that the company still has a long growth runway, UBER stock seems fairly valued at this point. Disclosure.

San Francisco, CA-based ride-sharing company Uber Technologies UBER has been having a great run on the bourses lately. In the last three trading sessions, the stock hovered at more than $82/share, closing at $83.2 on Tuesday. That

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Below is Validea's guru fundamental report for TESLA INC (TSLA). Of the 22 guru strategies we follow, TSLA rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit cha

Tesla (NASDAQ: TSLA) investors hoping for positive movement on the robotaxi opportunity, the low-price model, and FSD technology were disappointed by the We Robot event in early October. The event was more of a showcase of Tesla’s dream than its reality, leaving the market with

Elon Musk‘s Tesla (TSLA), one of the largest corporate holders of Bitcoin ( BTC-USD ), has sparked speculation by moving nearly its entire $760 million Bitcoin stash to unknown wallets, according to a CoinDesk report. A cryptocurrency wallet is a physical device, medium, program, or online service that stores the public and private keys needed for crypto transactions. The report cited data from crypto data firm Arkham Intelligence, which reported that more than 11,500 Bitcoins were transferred from Tesla-associated wallets to untraceable destinations. This left the company’s wallets with only $6.65 worth of BTC. TSLA Is the Fourth-Largest Bitcoin Holder This move is significant as Tesla is the fourth-largest Bitcoin holder among publicly traded U.S. companies, according to BitcoinTreasuries data. TSLA trails behind MicroStrategy (MSTR), Marathon Holdings (MARA), and Riot Platforms (RIOT). According to Arkham Intelligence data, the EV major first invested $1.5 billion in Bitcoin in February 2021, and at one point, its holdings grew to $2.5 billion. However, in early 2022, Tesla sold 75% of its Bitcoin holdings at a loss, reflecting the volatility in the cryptocurrency market. According to Arkham, the automaker held 11,509 Bitcoins in March, valued at around $770 million. When Tesla initially acquired Bitcoin, Musk announced plans to accept the cryptocurrency as payment for vehicles. However, these plans were dropped shortly afterward, citing environmental concerns over Bitcoin mining’s carbon footprint. Is Tesla a Buy, Sell, or Hold? Analysts remain sidelined about Tesla stock, with a Hold consensus rating based on 11 Buys, 16 Holds, and eight Sells. Over the past year, TSLA stock has declined by more than 10%, and the average TSLA price target of $207.83 implies a downside potential of 5.4% from current levels. See more TSLA analyst ratings

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Tesla (NASDAQ: TSLA) held an event showing off its robotaxi ambitions on Oct. 10. It unveiled the Cybercab and Robovan, two autonomous vehicles designed with a robotaxi service in mind. CEO Elon Musk said he expects the Model 3 and Model Y to support unsupervised full self-drivin

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Shares of Uber UBER and Lyft LYFT surged on Oct. 11, 2024, following Tesla’s TSLA not-so-exciting robotaxi event, which failed to meet expectations, raising concerns among ridesharing investors. Uber shares jumped 10.8% on that da

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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco QQQ (Symbol: QQQ) where we have detected an approximate $149.2 million dollar inflow -- that's a 0.1% increase week over week in outstanding

Tesla’s (TSLA) stock has declined over 8% in the last five days in the aftermath of the anticipated and hyped robotaxis event, where the company unveiled its Cybercab. We say that numbers don’t lie; sure enough, they tell a story in this case. The essence of the story is confusion, which is the feeling investors had coming out of the event. They expressed their disappointment at how little information was handed to the public: no knowledge in regard to strategy, no time frame for the actual release of the Cybercab, and almost no technical information and data about the autonomous vehicle, which left guests and investors alike with more questions than answers. In addition, at the event, in a further attempt to excite the public, Elon Musk and Tesla have decided to unveil the new development of Optimus, a humanoid AI robot designed to be the next generation of housekeepers and could even be trusted to babysit. The robots danced with the crowd, poured drinks, and engaged in small talk with the guests. It must be said that Optimus was of secondary importance in an evening dedicated mostly to the much-anticipated Cybercabs. However, even the unveiling of Optimus created controversy after some guests claimed the robots were remote-controlled by Tesla employees. The presentation did not do well for the Tesla brand and Musk’s reputation, which is the main catalyst for Tesla’s high valuation. If you wish to read more about Tesla’s robotaxis event, you can read what our writer at Tipranks, Marc Guberti wrote about the event right here. Now, let’s examine three major challenges facing Tesla and Elon Musk: Tesla’s Competitors in the Autonomous Industry: While Tesla unveils its Cybercab and doesn’t report data on its progression, companies like Waymo, sponsored by Google (GOOGL), are already operational and completing an estimated 100,000 drives a week. The California DMV reveals that Waymo has accomplished more than 4.7 million miles in 2023. Also, companies like Cruise, Zoox, Nuro, and even Apple (AAPL) are all in the race for reliable autonomous vehicles. So, competition is fierce. Current Market Challenges: While Musk and Tesla are trying to ensure a profitable future, the present is filled with its own challenges. TSLA’s revenues from its current stack of cars have declined 7% year-over-year in this year’s second quarter. Since leading the way in the EV industry, other players and cheaper players have entered the industry and taken a bite of Tesla’s market share. EV Chinese manufacturers like BYD (BYD) and NIO (NIO), or even Ford (F) and General Motors (GM), all pose a genuine threat to Tesla’s market share. With this kind of competition, Musk, who has never failed to deliver, will need to deliver fast. High Valuation: Tesla’s valuation could become a problem. It trades at a multiple ratio of 61, even after disappointing second-quarter results and a 12% decline year-over-year. Of course, Musk’s reputation is the added ingredient that has put a premium on the stock, but now it seems unjustifiable, especially with net profit margins of 5.8% this year. Ford’s valuation, for example, is at a multiple of 11, with a net profit margin of 3.8%. Ferrari’s (RACE) valuation is 54x, but it has accumulated a net profit of over 16% year-over-year. What Is TSLA’s Price Target? On Wall Street, Tesla is a Hold, with 11 Buys, 16 Holds, and 8 Sell. The  average price target for TSLA stock is $207.83, reflecting -6.10% downside. See more TSLA analyst ratings Conclusion Tesla has just revealed its new autonomous vehicle – the Cybercab – and has overwhelmed the people attending, not for the good. In the aftermath of this event, TSLA stock has declined by over 8%, leaving many questions surrounding the company’s strategic moves. The company’s challenges have become more evident, with rising competition in the near future autonomous industry and the current EV industry. Also, the company’s valuation seems to hinder the company’s bottom-line profits compared to other companies in the industry, which might cause investors to back away from the stock. Tesla’s whole reputation relies on one man’s reputation, Elon Musk’s reputation, and now is the time for him to deliver on his promises.

The Biden administration announced a string of tariffs on China-made goods traded in the United States in 2024 to combat supposed trade malpractices. One of the targeted sectors on which this decision has an impact is electric veh

Below is Validea's guru fundamental report for TESLA INC (TSLA). Of the 22 guru strategies we follow, TSLA rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit cha