Tesla Inc (NASDAQ:TSLA) shares are trading lower by 6.40% to $207.83 Thursday morning after the company reported worse-than-expected third-quarter sales results.
So What Happened?
Tesla reported third-quarter revenue of $21.45 billion, up 56% year-over-year. The total came in shy of analyst estimates of $21.96 billion. The company also reported automotive revenue of $18.69 billion in the third quarter, up 55% year-over-year.
In the third quarter, Tesla reported record revenue, free cash flow and operating profits despite what the company called “material headwinds.”...Read More
Tesla also received a number of analyst rating updates Thursday morning:
- Deutsche Bank analyst Emmanuel Rosner maintained Tesla with a Buy and lowered the price target from $390 to $355
- Wedbush analyst Daniel Ives maintained Tesla with an Outperform and lowered the price target from $360 to $300
- RBC Capital analyst Joseph Spak maintained Tesla with an Outperform and lowered the price target from $340 to $325
See Also: Why Alcoa Shares Are Falling Sharply During Wednesday's After-Hours Session
According to data from Benzinga Pro, Tesla has a 52-week high of $414.50 and a 52-week low of $204.16.
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