Cathie Wood’s Ark expects Tesla stock to hit $ 3,000 by 2025

(Reuters) – Cathie Wood’s Ark Invest has said it expects Tesla Inc’s stock price to hit $ 3,000 by 2025.

Ark expects Tesla’s market cap to reach up to $ 4 trillion at the best of times, according to a research note published here on Friday.

The investment management firm has set the price target for Tesla at $ 1,500 per share on a bearish basis by 2025 and $ 4,000 per share on a bullish basis.

Last year, Ark Invest said it expected the company’s stock to reach $ 7,000 per share, or $ 1,400 after adjusting its five-for-one stock division, by 2024.

Compared to last year, when Ark released its previous rating on Jan.31, 2020, Tesla’s stock rose 400% to $ 654.87 at Friday’s close.

Ark Invest has also increased the likelihood that the electric car maker will achieve fully autonomous driving within five years, and said the company’s net revenue in autonomous transportation could reach $ 327 billion by 2025. He expects Tesla’s electric vehicle revenue to reach between $ 234 billion. and $ 367 billion by 2025.

Tesla is the largest stake in $ 26.6 billion exchange-traded fund ARK Innovation and fund operator Wood, chief executive of Ark, is a longtime Tesla bull.