Tesla Q3 '17 earnings spook investor on high cash burn.
Tesla (TSLA) -5.2% pre market, hovering at 304-306. Pivots level retracts back on Q1 '17. 290/ 287 previous record high.
See chart below. To see more of our unique weekly pivot (*5 trading days period is our weekly basis* https://www.tradersfish.com/Stock/stock_performance
Q3 Number reported:
- ($2.92) vs. ($2.30) -> lost 27% higher than WS expected.
- Revenue $2.98B vs. $2.94B
- Q3 deliveries 26,137 -> 25,915 Model S and X, 222 Model 3.
- Q4 Capex at $1billion
- Source Tesla ir: http://ir.tesla.com/common/download/download.cfm?companyid=ABEA-4CW8X0&fileid=962149&filekey=00F6EB90-2695-44E6-8C03-7EC4E06DF840&filename=TSLA_Update_Letter_2017-3Q.pdf
Analyst take on earnings result:
- Buying opportunity ~ Baird
- Near term buying opportunity ~ Morgan Stanley
- Model 3 raises cash concern ~ UBS
- Price Traget lowered -> $185 from $195 @JPM; $310 from $320 Deutsche Bank;
- Sees more negative than positive in Q3, cites CFC concern ~ Citi
- Reiterates SELL, says needs to raise capital sooner, vut price target to$205 from $210 ~ GS