With the pricing of its Cybertruck, which recently went to its first customers after four years since its initial revelation, threatening to put off many and add a strain on the price of its shares, experts are on the fence regarding the price of the Tesla (NASDAQ: TSLA) in the next 12 months.
As a reminder, the TSLA stock recorded a turbulent performance in 2023, especially between early March and late May, when its price struggled below the $200 threshold before rallying toward the yearly high of $293.34 on July 18, with the last week witnessing a decline of 4.28%.
Wall Street weighs in on TSLA stock
That being said, a group of 33 Wall Street analysts is largely undecided, although leaning slightly toward bullish sentiment, on the price of the TSLA stock, rating it as a ‘Hold’ for now, on the basis of 13 votes, whereas 14 have declared it a ‘Buy’ and six advised ‘Sell.’
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Furthermore, they have offered 12-month price targets in the last three months, placing the average at $245.89, which would suggest a slight increase of 2.95% to its price at press time, whereas the minimum prediction is $85 (-64.41%) and the maximum forecast stands at $380 (+59.2%).
Tesla stock price analysis
Elsewhere, TSLA is following a diagonal trend zone that “continued to prove to be a crucial level to get above if this really wants to take off,” according to the analysis by stock market expert Jake Wujastyk shared in an X post on December 6.
As things stand, the price of TSLA at the time of publication amounted to $238.85, recording a 1.40% increase on the day, despite declining 4.22% in the previous week but also gaining 8.87% on its monthly chart, according to the most recent information retrieved on December 6.
At the same time, Tesla is trading in the upper part of its 52-week range, albeit lagging behind the S&P500 Index, which is trending near a new high. Moreover, it has been changing hands at a quite wide range between $205.69 and $252.75 in the last month.
On top of that, it has been an average performer lately, with a neutral outlook in the short term, which goes in hand with the Wall Street experts’ analysis but still sticks to a positive long-term trend, as it stands out as one of the better-performing stocks in the automobile industry.
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