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Tesla Motors (TSLA)

  • Tue, Jul. 21, 7:29 AM
    • Tesla Motors (NASDAQ:TSLA) is clipped in early trading from by an UBS downgrade on the company to a Sell rating.
    • The investment firm warns Tesla's current market valuation implies storage and auto volume growth targets that may be out of reach.
    • UBS trims its price target to $210 from $220.
    • TSLA -4.03% premarket to $270.88 after a brisk three-day rally pushed shares over $282.
  • Fri, Jul. 10, 5:14 AM
    • Tesla (NASDAQ:TSLA) has hired ex-Burberry senior vice president Ganesh Srivats to lead North American sales, adding an executive to help extend its reputation for automotive luxury.
    • Srivats will help Tesla deepen its already formidable brand into a premium lifestyle experience to go with its high-tech image, taking a cue from the kind of marketing BMW, Porsche and Ferrari have done.
    • TSLA +2% premarket
  • Wed, Jul. 8, 10:37 AM
  • Wed, Jul. 8, 7:37 AM
    • Tesla (NASDAQ:TSLA) gives back a bit more of its recent big run, as Pac Crest's Brad Erickson says the valuation is getting full and downgrades to Sector Weight.
    • He sees fair value for the stock at $293, or just 8% above yesterday's close, meaning a more balanced risk/reward scenario.
    • Shares -2% to $262.44 premarket.
  • Tue, Jul. 7, 8:47 AM
    • Tesla (NASDAQ:TSLA) -1.6% premarket after Deutsche Bank downgrades shares to Hold from Buy, citing valuation and an "insufficient" risk/reward at current levels.
    • The firm thinks the electric vehicle market should increase dramatically from current levels, and TSLA could become the dominant player in the space, but the company's opportunity looks priced into the stock at current levels.
    • Despite the downgrade, the firm raises its 2020 EPS to $22.20 from $20 and raises its stock price target to $280 from $245.
  • Thu, Jul. 2, 7:47 AM
    • Tesla (NASDAQ:TSLA) +2.8% premarket after saying it delivered 11,507 Model S sedans in Q2, a 52% Y/Y and 15% Q/Q increase as well as a company record.
    • But the company will need an uptick of growth in H2 if it is to meet CEO Elon Musk's ambitious sales goal of 55K deliveries for the full year.
    • TSLA does not release monthly sales; its practice of releasing quarterly sales started last quarter because it believed "inaccurate sources of information are sometimes used by others to project the number of vehicle deliveries."
  • Wed, Jun. 17, 11:30 AM
    • Baron Capital founder Ron Baron sees a $120B valuation on Tesla Motors (TSLA +2.9%) in five years.
    • That mark compares to Tesla's current valuation of $33B and Ford's market cap of $59.5B.
    • Baron is a long-time Tesla supporter and was an initial buyer of Tesla shares in the $30s.
    • In the firm's last quarterly report, Baron forecast that Tesla would not be able to meet demand for Generation 3 cars for years to come.
    • Shares of Tesla topped $260 for the first time this year today.
    • CNBC interview with Ron Baron
  • Wed, May 6, 5:43 PM
    • Tesla (NASDAQ:TSLA) produced 11,160 vehicles in Q1, down slightly from Q4's 11,627 but beating guidance of 10K. 10,045 vehicles were delivered, close to the 10,030 previously announced and up from Q4's 9,834.
    • The company expects to deliver 10K-11K vehicles in Q2, below estimates of ~12K. But it still forecasts 55K 2015 Model S and X deliveries. Q2 production is expected to total 12.5K. The Model X is on track to see deliveries start in late Q3.
    • Model S average transaction price is expected to drop Q/Q in Q2 thanks to a weak euro (a 100+ bps gross margin impact is expected). Tesla has responded by hiking European prices by ~5%. Operating expenses are expected to rise 10% Q/Q in Q2, and 45%-50% Y/Y in 2015. The 2015 capex budget is still at $1.5B.
    • Financials: Q1 gross margin (non-GAAP) was 28.2%, up from Q4's 26.7% and Q1 2014's 25.2% in spite of a strong dollar, and contributing to the EPS beat. Auto gross margin (exc. ZEV credits) was 26%, and services/other gross margin -3.2%; Tesla expects the latter to be slightly above breakeven in Q2. R&D spend +117% Y/Y to $147.4M; SG&A spend +82% to $147.4M. The company ended Q1 with $1.51B in cash, down $396M Q/Q thanks to $426M in capex.
    • Other details: 1) Order rates are said to have "accelerated even further" in Q2 thanks to greater availability of the Model S 85D and 70D. 2) Volume production for Tesla's home/commercial batteries is expected to start in Fremont, CA in Q3, and expand to the Gigafactory in Q1 2016. 3) To lower costs, Tesla is now shipping cars via rail rather than trucks in more regions, and "producing cars based on a uniform regional production mix."
    • TSLA +1.7% AH to $234.26.
    • Q1 results, shareholder letter (.pdf)
  • Wed, May 6, 4:35 PM
    • Tesla (NASDAQ:TSLA): Q1 EPS of -$0.36 beats by $0.14.
    • Revenue of $939.9M (+51.5% Y/Y) misses by $100.1M.
    • Shares +2.4%.
    • Press Release
  • Mon, May 4, 11:28 AM
    • There's no rest for debate on Tesla Motors (TSLA +2.2%) with the creation of Tesla Energy still being analyzed and the company due to report Q1 earnings on Wednesday.
    • Credit Suisse calls the battery business of the company more evolved than it anticipated in a new note to investors. Tesla Energy helps offset some risk from the automotive side and sets shares up for a "strong run" over the next 12 months, reasons CS.
    • The premise that Tesla has the home battery field to itself is taken on in a Reuters article which notes upstarts and tech heavyweights are dabbling with similar systems without the same degree of fanfare.
    • Tesla watchers also have a new set of data points to analyze after the company launched a pre-owned program for Model S owners to accompany a similar initiative for used Roadsters.
    • Shares of Tesla still trade near 2015 highs.
    • Tesla earnings preview
    • Previously: Tesla Energy launches with a charge (May. 01 2015)
  • Fri, May 1, 1:38 PM
    • To much fanfare, Tesla (NASDAQ:TSLA) has unveiled a line of batteries for homes, businesses, and utilities that store energy produced by solar panels. The wall-mounted home system, known as the Powerwall, is about the size of a suitcase. A 7kWh version goes for $3,000, and a 10kWh version for $3,500.
    • SolarEdge (NASDAQ:SEDG) is acting as Powerwall's inverter supplier. Tesla asserts its solution (developed with SolarEdge) will "will require only a single SolarEdge inverter to manage both PV and storage functions."
    • Also: Top SolarEdge client SolarCity is launching solar storage services for homes, businesses, and microgrids that rely on Tesla's batteries.
    • SolarEdge is now up 34% from its $20 March IPO price. The company's FQ3 report (its first earnings report as a public company) arrives on May 7.
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  • Fri, May 1, 8:47 AM
  • Mon, Apr. 27, 9:54 AM
    • Deutsche Bank is positive on the impact of Tesla Motors (TSLA +4.9%) entering the home energy and presents an upside outlook ahead of the consensus Street view.
    • "The bull case would be that this business could potentially add $5 to our 2020 EPS estimate of $20. At 20x P/E, this would equate to $100 per share," reads the note from DB.
    • Tesla is rated a Buy at Deutche with a price target of $245.
    • Shares of Tesla are at 2015 highs on pre-announcement enthusiasm.
    • Thursday is when the company makes its presentation.
    • Previously: Energy storage potential a big question with Tesla Motors (Apr. 22 2015)
    • Previously: Tesla Motors preps for energy storage launch (Apr. 23 2015)
  • Tue, Apr. 14, 9:41 AM
    • Morgan Stanley is out with new a set of estimates on Tesla Motors (NASDAQ:TSLA).
    • The investment firm sees Q1 EPS of -$0.77 vs. -$0.48 consensus.
    • FY15 and FY16 EPS estimates are set by MS at -$2.30 and $1.40 vs. consensus $0.58 and $3.99, respectively.
    • Morgan sees Tesla delivering 51K vehicles this year to miss the 55K units it guided to deliver.
    • Most Model X deliveries will be in Q4, predicts analyst Adam Jonas.
    • There's been some hyperbole out of MS on Tesla in the past which increases the drama of extending out the profitability and Model X forecasts.
    • Shares of Tesla are down 0.71% to $208.30 in early trading.
  • Mon, Apr. 6, 8:44 AM
    • Shares of Tesla Motors (NASDAQ:TSLA) are getting a lift in early action from the automaker's Q1 delivery update released last Friday.
    • The company previously set guidance at 55K units for the year with 60% of the deliveries targeted for the second half.
    • Bulls are pointing to the 55% Y/Y growth, while bears are focusing on the Q/Q delivery growth rate and margins.
    • Tesla didn't issue any color on if it was impacted by the West Coast port slowdown during the quarter.
    • TSLA +4.14% premarket to $198.90.
  • Mon, Mar. 30, 12:45 PM
    • Elon Musk says Tesla Motors (NASDAQ:TSLA) will unveil a "major" new non-automotive product line during a presentation at the Hawthorne Design Studio on April 30.
    • The exec also tweeted out a quick note of confidence on the EV automaker's prospects in China.
    • Product-guessing should keep Tesla watchers busy for the bulk of April.
    • Shares of Tesla moved higher off the development and are now +2.3% for the day after sitting in negative territory.
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Company Description
Tesla Motors Inc designs, develops, manufactures and sells high-performance fully electric vehicles and electric vehicle powertrain components.