Tesla Q4 2024 earnings preview: record production and market sentiment
As Tesla prepares to disclose its fourth quarter 2024 financial results, attention is focused on its record vehicle production, with market sentiment indicating a strong bullish outlook.
When is Tesla reporting?
Tesla is expected to report its fourth quarter (Q4) 2024 earnings on Thursday, 30 January at 8.00am AEDT, after the market closes.
Q4 2024 earnings expectations
According to the latest production report, Tesla achieved record performance with approximately 459,000 vehicles produced and over 495,000 vehicles delivered in Q4 2024.
- Revenue: $27.17 billion
- Net income on an adjusted basis: $2.7 billion
- Earnings per share (EPS): $0.74
Market sentiment
Based on 34 Wall Street analysts offering 12-month price targets for Tesla in the last three months, the average price target is $336.96, with a high forecast of $550.00 and a low forecast of $24.86.
This represents an 18.83% decline from the most recent price of $415.13.
Tesla recommendation chart
Currently, 73% of IG clients with open positions on Tesla (as of 23 January 2025) expect the share price to rise in the near term, while 27% expect it to fall.
IG client sentiment chart
Tesla technical analysis
Tesla's share price remains in a long-term uptrend, as indicated by the price trading firmly above the 50-day (green) and 200-day (blue) simple moving averages (SMA). This trend suggests traders might preserve a long position bias.
In the short term, the price trades within a range between support at $373.80 and resistance at $432.50. Range traders might look for a bullish price reversal at $373.50 for a long entry, resistance at $432.50. A close below support could serve as a stop-loss indicator.
Breakout traders may prefer to wait for a close above $432.50 on the daily chart for long entry. In this scenario, resistance targets are set at $467.40 - $487.50, while a close below the mid-point of the current range might act as a stop-loss measure.
If the price breaks the short-term range support, trend followers may choose to wait for the price to stabilise before initiating long positions, provided the long-term uptrend holds.
Tesla daily chart
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