Tesla (NASDAQ:TSLA) shares continued gains for seven straight sessions, as the stock rose 6.1% to $245.4.
The Elon Musk-owned company gained more than 26% in the preceding six sessions. The stock was down 1.2% since the start of the year.
The company closed 10% higher on Tuesday and touched its highest levels since January. The surge came after its Q2 deliveries tally topped the beaten-down expectations.
Looking at Seeking Alpha’s Quant Rating, TSLA has a Hold rating with a score of 3.31 out of 5. The company received A+ in the prospect of profitability, while it received F for valuation.
Turning to the Wall Street community, 18 analysts gave TSLA a Buy and above. 21 analysts have given the stock a Hold recommendation, and four were on Sell and five on Strong Sell.
“Tesla’s valuation is influenced by whether it remains an automaker or evolves into a technology hardware company, with expected value ranging from $300 billion to $1 trillion,” SA analyst Davide Zappa said.
“Tesla’s performances speak for themselves, in all aspects they are superior to your average automaker,” Zappa added.
“Analysts should raise their estimates in the company’s Q2 earnings report, but the larger focus should be on the upcoming robo-taxi unveiling event,” SA analyst Bill Maurer said.