Tesla Stock Drops Despite Market Gains; EPS Declines Continue with Rebound Expected in 2023

Tesla (TSLA) stock has seen a lot of investor attention lately, but shares have dropped 18.9% over the past month despite the broader market being up.

Tesla is expected to post year-over-year declines in earnings per share for the current quarter and fiscal year.

However, analysts expect Tesla's earnings to rebound with 31.5% growth next fiscal year.

Tesla recently posted revenues that slightly missed analyst estimates, along with an EPS decline compared to a year ago.

Tesla currently has a Zacks Rank of #3 (Hold), indicating expected in-line performance with the broader market over the near term.