Tesla (TSLA) Stock Sinks As Market Gains: What You Should Know

Tesla (TSLA) closed at $330.37 in the latest trading session, marking a -0.8% move from the prior day. This change lagged the S&P 500's 0.15% gain on the day. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, added 0.05%.

Prior to today's trading, shares of the electric car maker had gained 1.98% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 0.38% and the S&P 500's gain of 1.32% in that time.

TSLA will be looking to display strength as it nears its next earnings release. On that day, TSLA is projected to report earnings of $1.23 per share, which would represent a year-over-year decline of 36.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.97 billion, down 3.59% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.50 per share and revenue of $24.27 billion. These totals would mark changes of +62.41% and +13.11%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for TSLA. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.39% higher. TSLA is holding a Zacks Rank of #2 (Buy) right now.

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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