Is Tesla a good stock to buy in 2023?

Analysts are generally optimistic about Tesla’s business but see limited upside for its stock price in 2023. The analysts covering Tesla are projecting full-year adjusted earnings per share of $3.32 this year, down from an EPS of $4.07 in 2022. In addition, Tesla analysts are calling for 21.4% revenue growth in 2023 and 23.2% growth in 2024.

How will Tesla's earnings look in 2023 & 2024?

The analysts covering Tesla are projecting full-year adjusted earnings per share of $3.32 this year, down from an EPS of $4.07 in 2022. In addition, Tesla analysts are calling for 21.4% revenue growth in 2023 and 23.2% growth in 2024. Bank of America analyst John Murphy said growing EV demand creates a growth path for Tesla.

How did Tesla's stock perform in 2022?

Tesla’s stock had a meteoric rise through the previous decade, and TSLA reached over $400 per share in October 2021. However, its performance was rockier last year. On Jan. 1, 2022, Tesla’s stock price closed at $399.93. But 12 months later on Dec. 30, 2022, its price was just $123.18 at market close—a 69% decrease.