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Wall Street predicts Tesla stock price for next 12 months

Wall Street predicts Tesla stock price for next 12 months
Ana Zirojevic

With the price of Tesla (NASDAQ: TSLA) stock stagnating in the past months, alongside nearly a 30% decline since the beginning of the year, it is no surprise that Wall Street analysts are still on the fence regarding its performance in the next 12 months, with vastly differing price targets.

As it happens, Tesla shares have been trading in the $175 range for weeks, with the exception of a short-lived rally to $186 in mid-May as company revealed new details and deliveries for its electric semi truck program, after which it corrected and returned to its previous price trend.

Tesla stock price prediction

In terms of its price for the following 12 months, a group of 32 Wall Street analysts sharing their views in the past three months has assigned Tesla stock a ‘hold’ rating with 14 votes, as nine of them recommended a ‘buy’ and nine voted for a ‘sell,’ according to the most recent TipRanks data on June 11.

12-month Tesla stock price prediction. Source: TipRanks
12-month Tesla stock price prediction. Source: TipRanks

At the same time, experts have offered their Tesla stock price targets, setting its average at $172.92, which would represent a decline of 0.57% from TSLA stock price at the moment, with the lowest target at $22.86 (-86.86%) and the highest at $310 (+78.25%).

Among these analysts is Bernstein’s Toni Sacconaghi, who has recently opined that TSLA stock might drop by nearly 5% if Tesla shareholders this week approve the 2018 pay package for CEO Elon Musk in the amount of $56 billion but that they will likely not support it. As he told CNBC:

“I think it’s going to be tough to pass. The math is relatively straightforward. You have to get a majority of votes of shareholders that vote, and part of the challenge for Tesla is that not everyone votes.”

On the other hand, Tesla Board Chair Robyn Denhold believes that Musk is entitled to the CEO Performance Award due to his contribution to the company’s growth in the past six years, arguing that the “ratification of the pay package is really about fairness – fairness to our CEO.”

Tesla stock price analysis

For now, the price of Tesla shares stands at $173.91, suggesting a growth of 0.31% in pre-market, advancing 0.52% over the past week and gaining 1.18% in the last month while declining 29.99% since the year’s turn, according to the most recent charts on June 11.

Tesla stock price year-to-date (YTD) chart. Source: Finbold
Tesla stock price year-to-date (YTD) chart. Source: Finbold

In conclusion, Tesla shares might not make any significant price changes in the next 12 months, but the situation in the stock market can sometimes change suddenly and dramatically, so doing one’s own research, carefully weighing the risks, and keeping up with relevant news is critical when investing.

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