Tesla (NASDAQ: TSLA) has received renewed support from Wall Street after Piper Sandler reiterated its ‘Overweight’ rating on the electric vehicle maker.
As part of the update, analyst Alexander Potter maintained a $500 Tesla stock price target, implying about 26% upside from the stock’s current price of $396.
The latest Tesla stock forecast comes as analysts increasingly focus on the company’s progress in autonomous driving technology, with Piper Sandler arguing that several recent developments suggest Tesla has effectively achieved Level 4 autonomy in many driving conditions.
The $500 TSLA price target stands well above the broader Wall Street consensus. In this line, according to data from TipRanks, the average 12-month Tesla stock target among 29 analysts is $404.54, representing just 2.62% upside from current levels.
Tesla currently carries a ‘Moderate Buy’ consensus rating, based on 12 ‘Buy’ ratings, 14 ‘Hold’ ratings, and three ‘Sell’ ratings.
Analysts’ price targets range from a high of $600 to a low of $24.86, pointing to the wide divergence in views on Tesla’s long-term outlook.
Tesla’s path to $500
Piper Sandler’s bullish stance is largely tied to Tesla’s Full Self-Driving (FSD) platform and the company’s growing robotaxi ambitions.
Potter pointed to several developments that support confidence in Tesla’s autonomous driving capabilities, including insurance discounts for drivers using FSD, the start of Cybercab production, efforts to secure permits for robotaxi charging and storage infrastructure, and expanded disclosure of FSD subscription metrics.
Tesla is also expanding its robotaxi operations, with management previously indicating plans to launch the service in additional cities during the second half of 2026.
According to the analyst, these initiatives suggest Tesla is progressing beyond the testing phase and laying the groundwork for broader commercial deployment of autonomous transportation services.
Still, the bullish Tesla stock prediction remains closely tied to the success of its autonomy and robotaxi strategy.
If Tesla can successfully scale its autonomous driving platform and commercial robotaxi network, the company could unlock significant new revenue streams beyond its core vehicle business.
