Tesla (TSLA) CEO Elon Musk took to his social media platform X on Tuesday and initiated a poll asking if TSLA should make a $5 billion investment in his artificial intelligence startup, xAI. Interestingly, the poll garnered over 322,000 votes within hours, with about 70.2% in favor of the deal. However, the final decision rests with Tesla’s board and shareholders.
It should be noted that the poll came after Tesla reported disappointing second-quarter results. The company missed analyst expectations for the fourth consecutive quarter, with revenue declining in its core automotive segment.
Mixed Ratings Post-Q2 Results
Following the release of Q2 results, four Top-rated analysts reiterated a Buy rating on Tesla stock, while four rated it a Hold. Further, the stock was assigned a Sell rating today.
Investors should note that TipRanks ranks the top analysts according to industry, timeline, and benchmarks. The ranking reflects an analyst’s ability to deliver higher returns through recommendations.
Is Tesla a Buy or Sell?
With 12 Buy, 11 Hold, and seven Sell recommendations, Tesla currently has a Hold consensus rating on TipRanks. At the same time, the analysts’ average price target on TSLA stock of $208.26 implies 15.5% downside potential from current levels. Shares of the company have gained 19% in the past six months.
