J.P. Morgan analyst Brian Ossenbeck maintained a Buy rating on TuSimple Holdings (TSP – Research Report) on October 12 and set a price target of $10.00. The company’s shares closed yesterday at $6.01.
According to TipRanks, Ossenbeck is a 4-star analyst with an average return of 7.1% and a 44.24% success rate. Ossenbeck covers the Industrial Goods sector, focusing on stocks such as FedEx, United Parcel, and TFI International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TuSimple Holdings with a $14.42 average price target, implying a 140.13% upside from current levels. In a report released on September 28, Truist Financial also initiated coverage with a Buy rating on the stock with a $12.00 price target.
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Based on TuSimple Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.59 million and a GAAP net loss of $108.6 million. In comparison, last year the company earned a revenue of $1.48 million and had a GAAP net loss of $116.53 million
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TuSimple Holdings Inc is an autonomous technology company in the global truck freight market. It has developed a technology for semi-trucks to build the Autonomous Freight Network (AFN) in partnership with shippers, carriers, railroads, freight brokers, fleet asset owners, and truck hardware partners. The company recognizes revenue primarily from providing freight capacity services.
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