Tesla IncAnalyst maintains Buy rating and $460 price target, but fleet is tiny (69 vs Waymo's 620) and wait times are worse.
Tesla has only 69 robotaxis operating in Texas, far behind Waymo's 620, according to Texas DMV data as of June 16 cited by Bank of America. The analyst note from Alexander Perry highlights that Tesla is pricing rides more than 20% below competitors, averaging $10.90 per trip compared to about $13.70 for Uber, Lyft, and Waymo. Perry views this as a deliberate strategy to sacrifice margin in exchange for data and scale, though Tesla's average wait time of ten minutes lags the two-to-three-minute waits of rivals. Safety data shows Tesla has reported 18 minor incidents with no serious injuries or fatalities, while Waymo has logged 11 serious incidents. Perry maintained a Buy rating and $460 price target on Tesla, based on a sum-of-the-parts model extending to 2040.
Tesla IncAnalyst maintains Buy rating and $460 price target, but fleet is tiny (69 vs Waymo's 620) and wait times are worse.
Uber Technologies IncTesla's robotaxi pricing undercuts Uber by 20%, threatening Uber's ride-hailing market position.
Alphabet Inc Class CWaymo (Alphabet) has more robotaxis but Tesla undercuts on price, threatening Waymo's market share.
LYFT IncTesla's robotaxi pricing is 20% below Lyft, posing competitive threat to Lyft's ride-hailing business.
Bank of America Corp