Tesla’s (TSLA) shares fell more than 3% early Thursday following the American electric vehicle giant’s first-quarter earnings report, even as its spending plans for 2026 have emerged as one of the key factors dissuading investors.
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How Tesla Performed in Q1 2026
To put things in perspective, Tesla, during the three-month period that ended on March 31, grew its earnings per share by 52% year-over-year to $0.41 adjusted, beating the Wall Street consensus of $0.37. Its revenue also climbed by 16% from a year ago to reach $22.39 billion.
However, depending on who you ask on Wall Street, the results either represent a strong or mixed performance. Some estimates put analysts’ sales consensus figure at $22.28 billion, meaning that Tesla surpassed expectations, while others put it at $22.64 billion, marking a revenue miss.
Regardless, the shares are trading down early Thursday after initially rising by more than 5% in Wednesday’s after-hours trading. This likely indicates investors’ verdict: that Tesla has more to do to reassure the market, with TSLA down roughly 14% year-to-date.
Tougher Road Ahead for Tesla?
TipRanks’ Crowd Wisdom tool, which is based on the activities of the more than 859,000 investors tracked by TipRanks on its platform, shows investor sentiment on Tesla remains Neutral.
Of these investors, less than 0.1% have added TSLA to their portfolio over the seven days, and only 0.6% have done so over the past month, as the image below shows.
In terms of sentiment and portfolio additions over the last 30 days, the TSLA performance compares less favorably to Magnificent Seven peers:
- Microsoft (MSFT) — Very Positive, 4.1%
- Alphabet (GOOGL) — Positive, 1.8%
- Meta (META) — Positive, 1.8%
- Nvidia (NVDA) — Positive, 1.7%
- Apple (AAPL) — Positive, 1.7%
- Amazon (AMZN) — Positive, 1.1%
Is Tesla a Buy or Sell?
On Wall Street, Tesla’s shares continue to carry a Hold consensus rating from analysts. This is based on 13 Buys, 11 Holds, and six Sells assigned by 30 analysts over the past three months.
However, the average TSLA price target of $411.18 suggests a modest 6% upside.
