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Goldman Sachs estimates that Tesla's earnings per share in 2030 could range from about $2 to $3 to $20 per share, depending on the overall increase in market multiples, belief in the business's ability to support long-term growth, and the upward revision of future earnings per share forecasts. The 12-month target price has been raised from $300 to $395. If Tesla can gain excess market share in areas such as humanoid robots and autonomous driving, the target price may increase. However, if competition limits profits (such as in the Chinese ADAS market) or if Tesla's execution is poor, the target price may decrease. Overall, Goldman Sachs has raised Tesla's earnings per share forecasts for 2025 to 2027 to $1.15, $1.95, and $3 (previously $1.08, $1.85, and $2.9) mainly driven by better vehicle deliveries in 2025 and improvements in energy revenue and profits in 2026 and 2027.