Is clock ticking for this Cinderella stock?
Investors continued to punish Tesla shares Thursday, with several analysts cutting their price targets, a day after the electric car maker posted quarterly earnings.
The company's stock dropped almost 8 percent Thursday, continuing its tumble from Wednesday's after-hours trading.
"For a while, the stock has been way ahead of itself," Cole Cox of Long Lomborg Asset Management told CNBC. "Three years from now, I wouldn't be surprised if it's lower than it is at right now today as valuations and economic reality of this business catch up with the market cap."
So far, at least two analysts have cut their price targets on the electric car maker. UBS and JPMorgan slashed their target price on the company to $200 from $230, and $163 from $164, respectively. Both brokerages have a "neutral" rating on Tesla.
Goldman kept its "neutral" rating on the stock and its price target of $200, saying it is still "meaningfully below" analyst consensus in terms of earnings per share this year through 2016.