Wedbush Reaffirms Position as Leading Tesla Optimists
Just now
Analysts at Wedbush have increased their price target for Tesla (TSLA) stock to one of the highest on Wall Street, anticipating the June launch of fully autonomous Teslas in Austin, Texas.
Led by Dan Ives, the analysts raised the price target from $350 to $500, reclaiming the most bullish rating tracked by Visible Alpha. This new estimate surpasses the average target of around $296, which sits below current market prices.
The updated forecast aligns closer to the previous target of $550 held before CEO Elon Musk’s involvement in the Trump administration, which led to what they termed a “brand crisis tornado.”
The analysts noted, “We believe the bulk of potential valuation growth for Tesla hinges on the success of its autonomous initiatives, starting with the key June launch in Austin.”
Ives has previously suggested that Musk should scale back his government work and noted a “different Musk” who seems more dedicated to Tesla following his announcement of reduced government commitments during last month’s earnings call.
In interviews, Musk confirmed that the rollout of paid autonomous rides and plans for a cost-effective vehicle are progressing as intended, reaffirming his commitment to his role as Tesla’s CEO for the next five years.
Workday Shares Decline Following Underwhelming Revenue Projections
Earlier today
Workday’s (WDAY) stock experienced a significant drop after the human resources software provider did not revise its full-year subscription revenue expectations amidst an “uncertain environment,” as noted by CFO Zane Rowe.
The company stuck to its forecast of $8.80 billion in subscription revenue for fiscal 2026, matching market expectations, while slightly increasing its non-GAAP operating margin outlook to 28.5% from 28.0%.
CEO Carl Eschenbach commented on the necessity to remain closely connected with customers facing macro challenges, acknowledging that no business is exempt from these obstacles.
Despite strong fiscal first-quarter results, including adjusted earnings of $2.23 per share and a 13% rise in revenue to $2.24 billion, the company’s cautious outlook dampened investor sentiment, resulting in an over 11% decline in stock prices.
Intuit Stock Rises After Impressive Financial Outcomes
Recently
Shares of Intuit (INTU) surged after analysts raised their price targets, following the company’s announcement of stronger-than-expected earnings and improved outlook.
The stock increased by 7.5%, reaching $716, contributing to a 14% year-to-date gain.
UBS highlighted “eye-popping consumer strength,” adjusting its price target up to $750 from $720, while Oppenheimer and Jefferies raised their targets significantly as well.
Recent legislative advancements could lessen competition for Intuit by potentially eliminating the IRS’s Direct File program, which has been favored by users in its inaugural year, making it more challenging for Intuit’s TurboTax.
Deckers Stock Drops as Company Skips Full-Year Guidance
Shortly ago
Deckers Outdoor (DECK) shares fell sharply after the Ugg and Hoka brand owner announced that it would not provide a full-year outlook due to global trade policy uncertainties.
The company forecasted first-quarter sales between $890 million and $910 million, falling below market consensus, and despite delivering positive quarterly results, the lack of guidance triggered a nearly 20% stock decline.
Citi analysts maintained their buy rating and $150 price target, suggesting that any stock sell-off would present a favorable entry point.
IonQ Stock Adjusts After Exceptional 37% Surge
Earlier today
IonQ (IONQ) shares declined slightly this morning after experiencing a 37% surge the previous day. This rise was driven by the company’s CEO’s comments about aspirations to become the Nvidia of quantum computing.
The CEO emphasized IonQ’s position within the quantum computing sector, while the stock has more than doubled since early April due to optimism regarding the sector’s transformative potential.
Investors are advised to monitor key price levels around $55 and $100 for potential gains, while important support levels sit near $28 and $18.
Trump Threatens Apple with Tariffs on Outsourced iPhones
Earlier today
President Donald Trump warned Apple (AAPL) that a 25% tariff would be imposed on iPhones manufactured abroad if they continue outsourcing, causing the company’s stock to fall nearly 3% during early trading.
Trump expressed his expectations for Apple to manufacture iPhones in the U.S., underscoring his resistance to production in India or elsewhere, aligning with his agenda to protect domestic manufacturing.
The burden of tariffs could lead to significantly higher iPhone prices, impacting consumer demand and the company’s market performance, as Apple had already seen a considerable drop in its shares this year.
