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 forecast 39 cents in earnings per share 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 earnings call Tuesday afternoon by saying he would cut down his time spent on U.S. President Donald Trump's so-called 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%. Analyst 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 < 2 months until the end of June, investors can look forward to some interesting catalysts in the weeks ahead. In our view, this alone should be enough to keep the bears at bay, at least until we have a better idea re: the details of Tesla's new products, as well as the scale/scope of the robo-taxi launch." UBS: reiterates sell rating and $190 price target Analyst Joseph Spak's price target points to a decline of 20%. "Sentiment may drive the stock temporarily higher into a June robo-taxi launch, but we believe this may be a sell the news event for some investors. The potential catalyst of the low-cost vehicle launch may be removed as well. Even though TSLA confirmed the new lower cost models are on track to SOP in 1H25, they will resemble form/shape of current models. So effectively it's a lower cost trim that we believe could cannibalize existing higher priced trims." Canaccord Genuity: cuts price target to $303 from $404 Analyst George Gianarikas kept his buy rating on the stock despite cutting his price target, which still implies upside of 27%. "The bottom line is that for the stock to work, to get its mojo back, the growth arc must materially turn positive. We think it eventually will. Momentum from new vehicles, including the new Model Y, should help some. And, geographically-limited Unsupervised FSD could help spark excitement this year. Beyond that, Tesla is a bet on scaled Unsupervised FSD, energy storage and robots. A bet on creating the vertically-integrated leader in all 3. We think, that over time, there's a good chance they will figure it out." Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today's dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You'll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
