Tesla (TSLA) inventory simply took a physique blow after one other underwhelming Q1 supply report, however Dan Ives isn’t flinching.
The veteran Wedbush analyst doubled down on his Purchase score for the inventory, standing by a $600 worth goal, even after Tesla missed Wall Avenue’s supply and power storage expectations.
That factors to almost 65% upside, and represents the very best score on Wall Avenue for the EV big.
For perspective, on the time of writing, Tesla inventory traded at $360.59 onYahoo Finance.
That leaves the inventory down $20.67 a share, or almost 5.4%, from its $381.26 shut earlier than it launched its Q1 supply and power deployment replace.
The selloff ensued after Tesla’s Q1 supply report, which confirmed 358,023 car deliveries and 8.8 GWh of power storage deployments that got here in behind expectations, per Reuters.
For context, at its present dimension, Tesla’s one-day drop factors to almost $82.2 billion in misplaced market capitalization.
Even after its slide, Tesla nonetheless instructions a market cap of almost $1.35 trillion.
That mentioned, the corporate’s Q1 supply figures level to clear strain.
Deliveries fell in need of expectations for the second consecutive quarter, whereas power storage deployments additionally missed estimates by a big margin. For a lot of buyers, that invitations recent questions on demand and near-term development.
However, Ives is taking part in a distinct sport.
Ives wrote that,
So as an alternative of the quarterly sluggishness, Ives is doubling down on Tesla’s long-term transformation into an AI and robotics bellwether.
Tesla shares fall after Q1 supply miss as analyst maintains bullish outlook on long-term development
Bloomberg / Contributor
Tesla inventory returns vs the S&P 500
- 1W: Tesla inventory returned -3.10%, in contrast with the S&P 500 at 1.63%.
- 1M: Tesla inventory returned -10.59%, in contrast with the S&P 500 at -4.34%.
- 6M: Tesla inventory returned -17.30%, in contrast with the S&P 500 at -1.98%.
- YTD: Tesla inventory returned -19.82%, in contrast with the S&P 500 at -3.84%.
- 1Y: Tesla inventory returned 27.53%, in contrast with the S&P 500 at 16.08%.
- 3Y: Tesla inventory returned 73.81%, in contrast with the S&P 500 at 60.19%.
- 5Y: Tesla inventory returned 63.47%, in contrast with the S&P 500 at 63.75%.
Supply: Looking for Alpha.
Tesla’s latest supply observe document
- Q1 2026: Tesla delivered 358,023 automobiles and deployed 8.8 GWh of power storage. Deliveries missed Tesla’s firm consensus of 365,645. Deliveries rose 6.3% year-over-year.
- This fall 2025: Tesla delivered 418,227 automobiles and deployed 14.2 GWh of power storage. Deliveries missed Tesla’s firm consensus of 422,850. Deliveries fell 15.6% yr over yr.
- Q3 2025: Tesla delivered 497,099 automobiles and deployed 12.5 GWh of power storage. Deliveries beat expectations of about 443,919. Deliveries rose 7.4% yr -over-year.
- Q2 2025: Tesla delivered 384,122 automobiles and deployed 9.6 GWh of power storage. Deliveries missed the estimates of about 394,378. Deliveries fell 13.5% year-over-year.
What Dan Ives is saying about Tesla publish its dismal Q1 exhibiting
Regardless of posting one other underwhelming quarter, Ives is sticking along with his tune on Tesla inventory.
He’s doubling down on the long-term bull case, making it clear that the latest miss does nothing to interrupt the broader thesis.
- The Q1 miss wasn’t a shock: Ives referred to as the quarter “underwhelming,” however argued that given the softness in EV demand and Tesla’s strategic pivot, it wasn’t a giant shock.
- AI and autonomy stay the core bets: Ives sees Tesla as an EV firm and, extra broadly, an AI-driven platform. Based on him, robotaxis, Full Self-Driving (FSD), and broader autonomy are the true drivers of its future valuation.
In September final yr, as per Benzinga, Ives mentioned that Wedbush “estimates the AI and autonomous opportunity is worth at least $1 trillion alone for Tesla”.Additionally, CEO Elon Musk mentioned that, “The future of the company is fundamentally based on large-scale autonomous cars and large-scale autonomous humanoid robots.”
- Europe is a key bottleneck: Regulatory delays pertaining to FSD approvals proceed to carry again development within the area.
- China stays a brilliant spot: Tesla’s deliveries in China jumped an unbelievable 35% year-over-year within the first couple of months of 2026, underscoring great demand in a key market.
- Huge funding cycle forward:Reuters reviews that Tesla plans almost $20 billion in spending throughout AI infrastructure, robotaxi manufacturing, Optimus robots, and battery capability, which can drive the following leg of enlargement for its enterprise.
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Wall Avenue worth targets for Tesla inventory
- Wall Avenue’s consensus worth goal for Tesla inventory is $417.08, indicating 15.67% upside from the present worth of $360.59.
Analyst goal costs vary from a excessive of $600 to a low of $125.00. - Wedbush’s Dan Ives: $600 (66.39% upside).
- Baird’s Ben Kallo: $538 (49.20% upside).
- Truist’s William Stein: $400 (10.93% upside).
- Goldman Sachs’ Mark Delaney: $375 (4.00% upside).
- Wells Fargo’s Colin Langan: $125 (65.33% draw back).
Supply: Barrons.
Investor takeaway on Tesla inventory
Tesla is heading into an enormous earnings take a look at quickly.
As per Looking for Alpha, earnings are due April 22 after the bell, with consensus estimates pointing to $0.40 normalized EPS, $0.25 GAAP EPS, and $22.97 billion in gross sales.
Nevertheless, expectations are drifting decrease into the print, with 5 upward EPS revisions and 8 downward revisions over the previous 90 days.
Extra Tesla:
- Elon Musk’s Terafab wager: what it means for Tesla buyers
- Financial institution of America revamps Tesla inventory worth
- UBS has a message for Tesla inventory buyers
On valuation, Tesla nonetheless seems to be costly primarily based on in style metrics.
The EV big’s non-GAAP trailing P/E ratiois 215.9 in comparison with the sector median of 14.8, whereas ahead non-GAAP P/E is 174.3 versus 14.6 for the sector.
Even when pitted in opposition to Tesla’s personal historical past, the inventory seems to be stretched.
Trailing non-GAAP P/E is 71% above its five-year common, and its ahead P/E is about 50% larger.
Furthermore, from a technical standpoint, the setup will not be robust.
Tesla is buying and selling comfortably behind its 10-day, 50-day, 100-day, and 200-day transferring averages by 3.1%, 10.6%, 14.7%, and 9.2%, respectively.
Therefore, it’s prudent to attend for a cleaner setup or a post-report reset, which is the extra disciplined transfer.
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