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Abstract:Tesla shares jumped as much as 12% to hit a record-high price of $650.88 per share. One analyst sees the stock jumping as high as $750 by 2021.
Tesla beat analyst estimates for fourth-quarter profit and revenue Wednesday afternoon, and the subsequent stock spike prolonged the automaker's strong rally in 2020.The company announced its Model Y CUV would reach delivery sooner than expected, and projected it would “comfortably exceed” 500,000 total deliveries in 2020, a 36% gain from last year's figure.The earnings win saw Tesla shares jump as much as 12% to hit a record-high price of $650.88 per share.Here's what four analysts said about the soaring stock price and fourth-quarter earnings win.Watch Tesla trade live here.Tesla bested analyst estimates with its fourth-quarter report on Wednesday afternoon, prolonging its stock surge through 2020 and easing fears of a continued supply struggle.
The automaker's stock soared as much as 12% Thursday following the blockbuster report. Tesla beat expectations for both quarterly profit and revenue, and noted its 2020 deliveries would “comfortably exceed” 500,000 vehicles compared to 2019's 367,500.The company also accelerated the rollout of its Model Y CUV, saying a “production ramp” started in January and deliveries would begin by the end of March.The earnings win drove Tesla shares to an all-time high of $650.88 per share. The stock has already notched several record highs through the new year, granting a hefty compensation package for CEO Elon Musk and establishing the firm as the highest-valued automaker in the US.Tesla traded at $640.50 per share as of 3:10 p.m. ET Thursday, up about 55% year-to-date.
Here's what four analysts have to say about Tesla after its positive fourth-quarter figures and surging stock price.
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The global market reacts to various developments, including Tesla's profit miss, China's interest rate cut, Bernard Arnault's net worth decline, and typhoon Gaemi's impact. The Mt. Gox compensation, Lineage Inc.'s IPO, and Netanyahu's speech in the US Congress also influence market dynamics. European banks' mixed performance, Canada's rate cut, and Russia's sanction issues add to the market fluctuations, along with South Korea's GDP contraction and stable oil prices.
Tesla faces ongoing struggles with profit misses, impacting its stock and investor confidence. Meanwhile, Alphabet Inc.'s strong Q2 earnings highlight robust demand in cloud services and advertising. Political developments in the US, with Vice President Kamala Harris rallying support, and India's budget aimed at job creation reflect significant economic shifts. Natural disasters and corporate news, such as Boeing's resumed 737 Max deliveries and Citi's upgrade of Coinbase, also influence market
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