US earnings season: Tesla Q4 results preview

Key takeaways from Tesla's Q4 2024 preview:

1. Tesla achieved record performance with approximately 459,000 vehicles produced and over 495,000 vehicles delivered in Q4 2024
2. Consensus estimates project Q4 revenue of $27,169m, adjusted net income of $2,697m, and EPS of $0.74.
3. Wall Street analysts have an average price target of $336.96 for the stock, suggesting an 18.83% downside from the current price
4. IG client positioning shows strong bullish bias with 73% of clients holding long positions, while 27% maintain short positions.
5. The stock price maintains a long-term uptrend, although trades within a near term range

When are the Tesla Q4 2024 results expected?

Tesla, the Nasdaq listed and world leading electric car specialist, is expected to report its fourth quarter earnings for 2024 (Q4 2024) on the 29th of January 2025.

Tesla Q4 earnings preview: What ‘The Street’ expects, broker ratings and client sentiment

In the group’s recent production report, the company notes that ‘In the fourth quarter, we produced approximately 459,000 vehicles, delivered over 495,000 vehicles and deployed 11.0 GWh of energy storage products – a record for both deliveries and deployments’.

A consensus of estimates from Thomson Reuters arrive at the following expectations for the Q4 2024 Tesla results:

• Revenue $27,169m
• Net income on an adjusted basis $2,697m
• Earnings Per Share (EPS) of $0.74

Based on 34 Wall Street analysts offering 12 month price targets for Tesla in the last 3 months. The average price target is US$336.96 with a high forecast of US$550.00 and a low forecast of US$24.86. The average price target represents a -18.83% change from the last price of US$415.13.

Seventy three percent of IG clients with open positions on Tesla (as of the 23rd of January 2025) expect the share price to rise in the near term, while twenty seven percent of IG clients with open positions on the company expect the price to fall.

Tesla - Technical View

The share price of Tesla remains in a long term uptrend as considered by the price trading firmly above the 50 (green) and 200 (blue) day simple moving averages. This suggests that trend followers might continue to keep a long bias to trades on the stock.

In the near term the price trades within a range between levels 373.80 (support) and 432.50 (resistance).
Range traders might look to see a bullish price reversal off range support at 373.50 for long entry targeting a move back towards resistance at 432.50. In this scenario, a close below range support might be used as a stop loss consideration.

Breakout traders might prefer to wait for a close on the daily chart above the 432.50 level for long entry. In this scenario, 467.40 and 487.50 provide upside resistance targets from the move, while a close below the mid-point of the current trading range might be used as a stop loss consideration.

Should the price instead break the support of the current short term range, trend followers might instead prefer to wait out weakness before finding long entry into the stock, provided that the longer term uptrend is maintained.