Tesla (TSLA) Could Reach $1,000 in Next 3-to-5 Years

Tesla Stock

Shares of Tesla (TSLA) could print the tape at $1,000 per share over the next three-to-five years based on market value comparisons to Google (GOOG) and Facebook (FB), an article by TheStreet’s Jason Schwarz says, noting that the Wall Street is starting to view Tesla as a tech company following the Gigafactory announcement.

“Even after Tuesday’s tremendous stock performance, Tesla’s market cap sits at a paltry $31 billion compared to Facebook at $178 billion, Google at $410 billion and Apple at $470 billion”, writes Schwarz, adding that ” Tesla could be headed to $1,000 over the next 3 years to 5 years based on these market cap comparisons”. Even at $1,000 a share, he says, ” Tesla would have a smaller market cap than Facebook.”

The author goes on to say that as Tesla’s Gigafactory announcement approaches, the Wall Street will start  perceiving it more as a tech company, as oppose to a car company.

“Owning Tesla in front of the Gigafactory announcement may be similar to owning Apple (AAPL) ahead of the original iPhone announcement”, wrote Schwarz, while pointing out that the electric utility industry is a trillion dollar industry.

“[I]f Facebook operates in a $42 billion industry and is rewarded with a $178 billion market cap, where does that leave Tesla?”, he asks.

Schwarz’s $1,000 per share price target is nearly 3X higher some of the most recent price targets set for the shares, with $325 being the high target.

TSLA has exploded more than 640 percent on a year-over-year basis, reaching an all-time high of $265 per share Wednesday morning.

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