Some Wall Street Takes On Tesla’s Q1 2023 Earnings
. Some analysts were disappointed with Tesla’s gross profit margins, which landed beneath Wall Street expectations of 21 percent at just 19 percent.
“We’ve taken a view that pushing for higher volumes and a larger fleet is the right choice here versus a lower volume and higher margin,” Musk said. “However, we expect our vehicles, over time, will be able to generate significant profit through autonomy. Baird analyst Ben Kallow retained a $252 price target and a Buy rating on Tesla following the call, emphasizing positive hopes for the company in both the near and long terms.
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