Tesla Inc (NASDAQ:TSLA) stock is trading lower on Monday. Baird analyst Ben Kallo trimmed his price target on the stock to $538 from $548 while keeping an Outperform rating. Here’s what you should know.

Q1 Deliveries Miss Expectations

Baird analyst Ben Kallo maintained Tesla with an Outperform rating on Monday and lowered the price target from $548 to $538. Canaccord Genuity also maintained a Buy rating on Monday with a price target of $420. The stock carries a consensus Buy Rating with an average price target of $417.82.

Baird's price‑target adjustment comes after Tesla reported one of its weakest delivery figures in years. Late last week, Tesla said it delivered 358,023 vehicles in the first quarter. The total fell short of the 365,645 consensus estimate, though it did come in above the 336,681 vehicles delivered in the same quarter last year, according to Investing.com. Most of the deliveries were Model 3 and Model Y units.

Tesla also produced 408,386 vehicles in the first quarter, well below the 446,063 consensus estimate, though above the 362,615 units produced a year earlier.

For fiscal 2025, Tesla delivered 1,636,129 vehicles and produced 1,654,667, marking the company's second consecutive year of declining volumes.

Tesla deployed 8.8 GWh of energy storage in the first quarter of 2026, well below the 14.4 GWh consensus estimate and also below the 10.4 GWh deployed in the same quarter last year.

TSLA Stock Sets Up For Next Move

Tesla's chart is being read through key swing levels after a recent swing low on March 30, which suggests traders are watching whether the bounce can hold. Moving-average positioning and RSI/MACD readings are not available in the provided dataset, so the cleanest technical read today is the stock's behavior around major horizontal levels.

The stock is in the middle of its 52-week range ($214.25 to $498.83), which is consistent with a market still debating upside follow-through versus consolidation. The 12-month gain of 50.95% shows the longer-term trend has been strong, but that's backward-looking and doesn't prevent shorter pullbacks.

  • Key Resistance: $416.50 — a prior ceiling where rallies have tended to stall.
  • Key Support: $325.50 — an area where buyers have previously shown up.

Benzinga Edge Rankings: The Benzinga Edge scorecard for Tesla highlights its strengths and weaknesses compared to the broader market.

  • Momentum: Neutral (Score: 32.28) — The trend is mixed, with follow-through not consistently strong.
  • Quality: Neutral (Score: 69.68) — Fundamentals screen relatively well versus many peers.
  • Value: Weak (Score: 3.33) — The market is pricing in a lot of future growth.
  • Growth: Neutral (Score: 61.55) — Growth expectations remain supportive, but not "top-tier" on this model.

The Verdict: Tesla,’s Benzinga Edge signal reveals a premium-valued stock with mixed momentum and solid underlying quality. With value scoring extremely low, the chart often needs strong sentiment or catalysts to justify upside continuation.

TSLA Shares Slide Monday

TSLA Price Action: Tesla shares were down 2.55% at $351.42 at the time of publication on Monday, according to Benzinga Pro.

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