Market whispers indicate that electric vehicle stalwart Tesla (NASDAQ: TSLA) is in for impressive Q4 2021 earnings results, which are expected after the market closes tomorrow, January 26.
To gain more insights into how its Q4 might have looked, we turned to TipRanks’ new tool that tracks monthly website visits. The Tesla website has significant information about its vehicles, upcoming models, technical details, upcoming events that might be informative to investors, and much more. Moreover, the website has a shopping tab that allows customers to purchase a wide range of charging devices, apparel, vehicle accessories, and lifestyle products. Therefore, the more virtual visits to Tesla’s website, the higher the potential revenue for the company.
What we found using this new tool was quite encouraging. The monthly user statistics show that there has been a rise in total estimated visits to Tesla’s website in the quarter to be reported. Digging deeper, we see there was a 1.91% sequential growth in total visits to tesla.com. Notably, about 97.1 million global users visited the website in Q4. This quarterly growth reflects the demand for Tesla vehicles.
More importantly, the monthly user statistics confirm the fact that Tesla benefitted immensely from the soaring demand for green vehicles and personal transport in Q4, with the company delivering a record 308,600 electric cars against Wall Street expectations of 267,000.
Interestingly, the tool also allowed us to look into how many total visits were made to the shopping tab on the Tesla website. Tesla saw 3.6 million users from all over the world visiting shop.tesla.com. This number was meaningfully up 47.94% sequentially. This means there is a good chance that the sale of merchandise products brought in more revenues in Q4 than in Q3.
However, as a slight damper to the Q4 enthusiasm, we noticed that the total estimated visits to both domains in the final quarter of 2021 were 5.97% lower than what was recorded in the same quarter of 2020.
This does not change the fact that the demand for the latest Tesla models and merchandise products is surging, as is evidenced by the volume of virtual footfall witnessed by the website. These statistics indicate a strong possibility of meaningful revenue growth for the company in the quarter to be reported tomorrow.
Experts Weigh In
Ahead of the Tesla earnings release, Wedbush analyst Daniel Ives maintained a Buy rating on Tesla, with a price target of $1400.
The analyst consensus, however, is cautiously optimistic about Tesla, with a Moderate Buy rating based on 15 Buys, 8 Holds, and 6 Sells. The Tesla stock projections indicate an average price target of $1074.69, implying an upside of 15.6%.
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