After Tesla’s first-quarter earnings miss, Wall Street analysts are wondering what’s next for the electric vehicle giant. Tesla earned an adjusted 27 cents per share on $19.34 billion in the first quarter, while analysts polled by LSEG forecasted 39 cents earned and $21.11 billion in revenue. The company said it would “revisit” its guidance in the second quarter update. The report comes as Tesla faces protests across the world following CEO Elon Musk’s foray into conservative politics. Musk began his Tesla’s earnings call on Tuesday afternoon by saying he would cut down his time spent on U.S. President Donald Trump’s Department of Government Efficiency starting next month. Despite the earnings miss, shares popped more than 6% before the bell following the report. Still, shares have plunged around 41% in 2025. Several analysts cut their Tesla price targets following the release. Here’s what some of them saw as the biggest takeaways from the report: Goldman Sachs: cuts price target to $235 from $260 Analyst Mark Delaney kept his neutral rating on the stock. His new price target also implies downside of 1.2% from Tuesday’s close. “We believe downside risk to consensus estimates over the near to medium term is offset by what we think will be improved longer-term profits driven in part by increased software revenue with [full-self driving] (although we have a more balanced view of Tesla’s monetization potential from FSD than the company is targeting).” Wells Fargo: lowers price target to $120 from $130 The bank’s new target signals downside of about 50%. Analysts Colin Langan has an underweight rating on shares. “TSLA is up … post mkt despite another Q1 miss & cutting delivery guide. Fundamentals look worse with material tariffs risk in Energy Gen. Also, the new affordable model launch is likely just a cheaper Model Y. We expect the stock to fade.” TD Cowen: trims price target to $330 from $388 Analyst Itay Michaeli reiterated his buy rating on the stock. His new price target still implies upside of 38.6%. “A better-than-feared quarter with comforting conference call updates. The [near-term] fundamental picture has become more challenging (brand, tariffs, macro), but the upcoming catalyst path from new EVs and AV/Robotics appears intact. Amid poor sentiment and reduced expectations, we still like risk/reward in a setup that’s somewhat reminiscent of last year’s.” Piper Sandler: keeps $400 price target The firm’s target points to a 68% rally ahead. Analyst Alexander Potter also reiterated his overweight rating. “The most important Q1 takeaway is this: Tesla didn’t hedge expectations re: launching robo-taxis or lower-priced vehicles in 1H25. With
