Tesla shares fell 2.5% on Monday, extending a 5.4% drop from Friday after a weak Q1 delivery report.
Q1 vehicle deliveries totaled 358,023, missing analyst estimate of 372,160 and falling 7% short of JPMorgan’s 385,000 forecast.
Energy storage installations slipped 15% YoY to 8.8 GWh, 39% below the company’s consensus expectation of 14.4 GWh.
Analyst Ryan Brinkman cut EPS Q1 to $0.30, lowered 2026 outlook to $1.80 and set a $145 price target, citing 60% downside.