Tesla’s mixed first-quarter earnings have divided analysts, with some citing “nagging numbers” that were below consensus and others focusing on “another solid quarter from Musk & Co.” Either way, Tesla TSLA, shares of + 1.21% fell 3% in pre-market trading on Tuesday, which made a small dent in CEO Elon Musk’s luck. Read: Tesla’s Q1 Sales Rise Over 70%, But Stocks Fall
Daniel Ives, an analyst at private investment firm Wedbush, was firmly in the bullish field. “After the bell, Tesla reported its first quarterly results that we would characterize as a solid impression for Musk & Co., as total revenue was slightly below bullish expectations of $ 10.39 billion versus the street’s estimate of $ 10.48 billion “. wrote in a note. “The all-important automotive GM [gross margins] ex-credits was 22.0%, compared to the period of the previous year of 20.0% ”. Citi analyst Itay Michaeli was more bearish: “The initial reaction from stocks outside of business hours is understandably negative, as Tesla’s clean first-quarter results were below consensus and are likely to be considered disappointing, but we don’t believe that the quarter changes the LT [long term] much bull / bear debate. There is no change in our view of the stock at current valuations. “Read: Tesla makes profit on the sale of bitcoins, but its ‘Technoking’ and ‘Master of Coin’ say it will not become a habit Danni Hewson, analyst of the broker AJ Bell warned investors to look beyond record earnings: “There Tesla has to deal with some annoying numbers: $ 518 million is the amount of cash generated, not from car sales but from regulatory credits, sold. to more polluting automakers. “It’s a huge number, one that nearly doubled compared to the same quarter last year and one that shouldn’t be relied on in the long run as other automakers make the switch to electric models. 184,800 is the number of cars delivered, an increase of nearly 100,000, but the vast majority of sales were in the form of more affordable models, a trend that is likely to continue. e $ 110 million earned from Bitcoin sales, so overall the core business is still loss. “But there is a number that will encourage investors. 1.05 million is the number of cars the company has the capacity to make this year up to almost 50%, in part thanks to new sites coming online in Texas and Germany and growth is expected to continue on the same path through as more conductors turn on. to electric. “There are roadblocks, including the global microchip shortage, and Elon Musk told investors that the last three months have brought the toughest supply chain problems the company has ever faced. And while the EV market is growing, so is the competition for a slice of that lucrative pie. Tesla could have led the race while the track was sparsely populated, you’ll need to find another gear if you want to maintain your position throughout the distance. “Read: Tesla has some major PR issues. What they mean for stocks. Philippe Houchois, An analyst at Jefferies, wrote in a note titled Fodder for Bulls and Bears that it was another mixed quarter, strong on gross margin but weak on earnings before interest and taxes: “We believe the first quarter figures support the current consensus in a year that it’s still mostly about execution rather than vision. “An upbeat note from Evercore read:” In what will be primarily a year dominated by ‘launch prep’ for the 22 (Berlin, Austin, expansion) capacity expansions / volume Model Y in Shanghai now, Model S upgrade, first Cybertruck and Semi by year-end?), Tesla ran a solid first quarter online “.