Tesla (TSLA) stock continued to ride its positive Q3 earnings report at the end of this past week, as analysts raised their price predictions for shares. Despite worry from investors following its Robotaxi event, the company outperformed nearly all expectations for Q3. Moreover, its stock value skyrocketed after the report was released, surging over 20%.

Entering the weekend, TSLA traded at over $265 per share. In five days, the stock surged 21%, flipping the negative performance it saw after the Robotaxi event. Now, several market experts are changing their price predictions for the better, predicting further jumps for the vehicle manufacturing company.

On Friday, analysts at Piper Sandler raised their price predictions for Tesla Stock to north of $300. Specifically, the investment bank raised its price target from $310 to $315. Piper Sandler was also bullish on Tesla this summer, telling investors to buy TSLA as the company had “solved the self-driving puzzle.” The analysts said that they raised their predictions “to reflect higher deliveries and higher margins.”

More Firms Raise TSLA Stock Predictions

Additionally, Stifel analyst Stephen Gengaro would also raise his financial firm’s price target for TSLA stock. Keeping a Buy rating on the shares, Gengaro raised the target to $287 from $265.

In Q3, Tesla reported earnings per share at $0.72. This was above the consensus $0.60 estimation and up 9% from 2023. Additionally, it reported $25.18 billion in revenue, up 8% from a year ago. Despite remaining about 35% below its 2021 record, TSLA is currently on pace for its highest close since September of last year.

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Tesla’s profit margins were boosted by $739 million in revenue for environmental regulatory credits, which JPMorgan Chase analysts noted in a report were a “potentially unsustainable driver” of earnings and cash flow. Results were also boosted by $326 million in revenue from FSD, the company’s Full Self-Driving Supervised system.

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