Shares in Tesla (TSLA) stock have been on a hot streak of late, up 30% in the last month. After peaking in the $470 range in December 2024, TSLA fell to as low as $222 this past Spring. It went on to struggle through the summer, but is picking back up in the past 30 days. Tesla stock topped $440 in early trade, up nearly 4%, poised for a new 2025 closing high above the $428.22 reached on January 15. Tesla stock is now higher in 9 of the last 10 trading sessions.

Market analysts are upping their price forecasts for TSLA stock near term. Piper Sandler analyst Alexander Potter hiked his price target to $500 from $400 following a visit to China, where the analyst claimed Chinese automakers looked to Tesla for AI and self-driving guidance. Potter noted increasing EV competition, but with respect to “real-world” artificial intelligence, Tesla is the leader, he says. “Bottom line: Tesla remains our top idea for investing in autonomous vehicles and robotics.”

Additionally, Baird market analyst Ben Kallo also recently upgraded TSLA shares to Buy from Hold. The analyst further raised his target to $548 from $320 a share. Overall, 47% of analysts covering the company rate shares Buy, according to FactSet. Coming into Monday, Tesla stock has gained about 6% so far this year and about 79% over the past 12 months. Shares were buoyed by a 23% rally over the past nine trading sessions, rising eight times and falling once over that span.

Also Read: Tesla (TSLA) Stock Nears 2025 High: $450 Rally Incoming?

A few things have helped propel shares higher, including CEO Elon Musk’s recent $1 billion stock purchase. Tesla also appears to be on the cusp of expanding its self-driving taxi service to Nevada and Arizona. Furthermore, Tesla’s shares broke out from a four-month symmetrical triangle earlier this month, setting the stage for a continuation move to the upside. Importantly, above-average volume has accompanied the recent buying, indicating conviction from larger market participants.

At $419, Tesla (TSLA) is currently trading near the top of its 52-week range and above its 200-day simple moving average. Wall Street has 27 Buy ratings on Tesla stock, 19 Hold, and five Sell. Meanwhile, the relative strength index confirms bullish price momentum, though the indicator also flashes extreme overbought conditions, heightening the chances of near-term pullbacks.