Tesla Inc (NASDAQ:TSLA) recently reported first quarter loss of $1.33 per share, lower than the Street’s forecast of $0.81. However, revenue in the quarter came in at $2.7 billion, versus the consensus estimate of $2.6 billion. Analysts believe that Tesla Inc (NASDAQ:TSLA) is overvalued. Even Tesla’s CEO Elon Musk recently admitted that the company’s market cap is way above than what it actually deserves.
Investment firm Argus recently reiterated a “hold” rating on Tesla Inc (NASDAQ:TSLA) stock. The firm thinks that Tesla will keep reporting losses in 2017 and 2018, mainly due to the expenses of the upcoming Model 3. Tesla Inc (NASDAQ:TSLA) has never posted a full-year profit. Its annual loss increased to $675 million in 2016. Piper Jaffray believes that Tesla will not become profitable before 2019.
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