Tesla (TSLA) Surges 3.8%: Is This an Indication of Further Gains?

Tesla (TSLA) shares ended the last trading session 3.8% higher at $230.58. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 36.7% loss over the past four weeks.Tesla shares have gained after President Donald Trump bought a Tesla Model S at full price. The purchase was widely viewed as a show of support for Elon Musk’s electric vehicle company, which has faced criticism due to Musk’s ties to Trump’s political agenda.This electric car maker is expected to post quarterly earnings of $0.59 per share in its upcoming report, which represents a year-over-year change of +31.1%. Revenues are expected to be $24.09 billion, up 13.1% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Tesla, the consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TSLA going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Tesla is part of the Zacks Automotive - Domestic industry. Ford Motor Company (F), another stock in the same industry, closed the last trading session 2.7% lower at $9.69. F has returned 7.8% in the past month.Ford Motor's consensus EPS estimate for the upcoming report has changed -61% over the past month to $0.05. Compared to the company's year-ago EPS, this represents a change of -89.8%. Ford Motor currently boasts a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA): Free Stock Analysis Report Ford Motor Company (F): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks