Is Tesla on Track to Deliver Apple-Like Gross Margins Amid China Demand Rebound? Bulls Munster and Ives React to Q3 Earnings

Raindrops are seen next to the Tesla logo on the bonnet of a Tesla electric car in Berlin's Kreuzberg district on March 15, 2021. David Gannon/AFP via Getty Images

Tesla Inc.’s impressive third-quarter earnings and revenue beat despite the impact of chip shortage indicates a robust electric vehicle trajectory for the Elon Musk-led company in the current quarter and beyond, according to analysts from Loup Ventures and Wedbush Securities.

Tesla Analysts

Wedbush analyst Daniel Ives has maintained an Outperform rating and a price target of $1,000 on the Tesla stock.

Gene Munster of Loup Ventures believes Tesla’s sales could jump from $70 billion next year to $400 billion in 2027 and the stock could hit $2,500 a share then.

Tesla Thesis

Ives, who has been a long-time Tesla bull, said the company’s robust earnings beat speaks of a more profitable company going forward and is key to a higher re-rating on the stock.