Will Tesla's Stock Reach $1,000 (Again) By 2022?
Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.
We surveyed a group of over 300 investors on whether shares of Tesla Inc (NASDAQ: TSLA) will reach $1,000 by 2022. Tesla trades around $607 at publication time.
The stock hit $1,000 earlier this year before the company's five-for-one stock split took effect on Aug. 31, 2020.
Tesla Stock Forecast
Founded in 2003, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. A brief history of Tesla’s vehicle lineup reveals the Tesla Roadster debuted in 2008, Model S in 2012, Model X in 2015, Model 3 in 2017, and Model Y in 2020.
Tesla also sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities.
Global deliveries in 2019 were 367,656 units. Based on third-quarter earnings data, Tesla remains on track and has the capacity to top its goal of 500,000 vehicle deliveries in 2020.
On Oct. 21, the company reported third-quarter revenue of .77 billion, representing a year-over-year increase of 39%. Revenue for the Palo Alto-based EV manufacturer came in higher than estimates of $8.26 billion. The sum of all automotive sales revenue for Tesla was $7.6 billion.
Seventy-three percent of readers said Tesla will reach $1,000 per share by 2022.
The most-cited reason for near-term growth. Many readers said Tesla is more than a car company and is instead a tech company that provides the automotive and household energy solutions of the future.
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This survey was conducted by Benzinga in December 2020 and included the responses of a diverse population of adults 18 or older.
Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 300 adults.
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