Tesla (TSLA) stock tumbled Wednesday, a day after the electric vehicle (EV) maker reported 澳洲幸运5官方开奖结果体彩网:weaker-than-expected earnings.

The results, as well as the pile of updates offered on Tesla's conference call, left Wall Street analysts divided on the company's outlook.

More bullish analysts, like those at Wedbush and Piper Sandler, were optimistic about future efforts such as Tesla's planned autonomous "robotaxis" and updates to its self-driving software. JPMorgan analysts, meanwhile, focused on Tesla's lower profits, reiterating a view that Tesla stock has become "divorced from the fundamentals."

Tesla shares were recently down about 11%, roughly representing their year-to-date decline after gains 澳洲幸运5官方开奖结果体彩网:earlier this month.

B𝔉ulls Eye Tesla Robotaxis, While Bears Focus on Vehicle Sal🧔es, Profit Margins

Wedbush analysts have repeatedly called Tesla more of an artificial intelligence (AI) and robotics company than a traditional car company. They wrote Wednesday that they weren't expecting "major fireworks" from Tuesday's earnings, and were more focused on the long-term vision for the company.

EV demand metrics are improving, they wrote, and Tesla's AI efforts are "on the doorstep" of starting to pay off, including with the coming robotaxis. CEO Elon Musk said during 澳洲幸运5官方开奖结果体彩网:Tuesday's earnings call that 🌌a robotaxi debut event was delayed to Oct. 10 f🐭rom August.

Piper Sandler analysts, raising their price target to $300 from $205, citing Tesla's long-term potential with robotaxis and possible licensing deals for its self-driving technology. "Sequential fluctuations in automotive gross margin hardly warrant mention, in the context of Tesla's wider ambition," Piper Sandler analysts wrote.

Bank of America analysts maintained a "buy" rating while lowering their price target to $225 from $260, cutting some 2024 estimates for Tesla while saying the company has "a number of catalysts ahead" like robotaxis and cost-cutting efforts that could drive the stock higher.

JPMorgan analysts maintained an "underweight" rating and a $115 price target. The analysts said Tesla's operating profit would have been "materially worse" if it hadn't received larger benefits from regulatory credits than expected.