Investing.com – Since mid-May, shares of Tesla Inc (BVMF:)(NASDAQ:) have been on an uncertain run, hovering around $700, capping the steepest decline since the start of the year, when the stock was valued at around $700. 1,200.
However, that consolidation could end this week, when the electric car maker led by Elon Musk will release its financial results for the second quarter of 2022 on Wednesday.
The consensus is forecasting EPS of $1.86, down sharply from $3.22 in the first quarter, but up 28% year over year. Regarding earnings, the consensus of analysts also expects a quarterly drop to $ 16.52 billion (against $ 17.87 billion in the first quarter), but an increase of more than 43% from the previous quarter.
Delivery forecasts will also be closely watched after Tesla announced earlier this month that vehicle shipments fell quarter-on-quarter for the first time in more than two years, due to factory closures in China and supply disruptions.
Shipments, however, increased by about 27% from the second quarter of last year, indicating that Elon Musk’s company was able to manage supply problems better than traditional manufacturers who had to close factories and reduce production.
Also note that in a note issued this month, JPMorgan (NYSE: high in battery. metals, which could reduce Tesla’s profits. Tesla shares, after falling 31% this year, closed Friday at $720.20.
As for the bankers’ opinion on Tesla’s action, it must be understood that the agreement is largely optimistic, since among the 33 analysts following the action, 22 recommend a purchase. Furthermore, the average target of these analysts, which is $891.52, implies a potential upside of 23.79 percent from Friday’s close.
Finally, the fair value of Tesla shares from InvestingPro, which summarizes many recognized financial models, invites more attention, being $731.42, or only 1.6% above the current price.