TSLA Stock Forecast – Quick Win: 7.9% in yesterday after hours

TSLA Stock Forecast

On November 2nd of 2015, The I Know First algorithm gave the signal of 21.09 for the ticker TSLA (Tesla Motors Inc), which had a predictability indicator of 0.2 In accordance with the algorithm’s prediction, TSLA spiked 7.9% in the after hours of yesterday.

TSLA Stock Forecast

Tesla Motors, Inc. is a United States-based company, which designs, develops, manufactures and sells electric vehicles, electric vehicle powertrain components and stationary energy storage systems.

Year to date it has not been a strong time for Tesla as shares have declined $14.06 which means a 6.32% drop. As we know the reason for this drop is because they are struggling to reach the low sales target that they put this year. On the upside, the company is expecting that the new Model X  will help them reach their target before the end of the year.

We can still be optimistic that Tesla can finish strong. They just named former Google Exec Jason Wheeler as the new CFO and has hired Jon McNeill as VP of Sales/Service. Wheeler is currently Google’s vice president of finance.This will be a big help for the electric car manufacturer.

Shares jumped as much as 10% in after-market trading as investors are looking at the implications of a very optimistic view for Tesla’s 4th Q.For Tesla to to reach its goal the company needs to deliver nearly 17,000 vehicles during Q4.But Tesla seems to be pulling it off, with management guiding for 17,000 to 19,000 deliveries during Q4. For perspective, Tesla’s fourth-quarter guidance implies 47% to 64% growth from the prior quarter and 73% to 93% growth from the year-ago quarter.

Other important notes are that: Tesla is on track with its plan to release its lower-cost Model 3 in March and since the launch of Model X it sales have increased as well as the Model S

Business Disclosure: I Know First Research is the analytic branch of I Know First, a financial startup company that specializes in quantitatively predicting the stock market. We did not receive compensation for this article, and we have no business relationship with any company whose stock is mentioned in this article. Read More From I Know First Research:

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