Tesla shares bumped higher in early Thursday trading following a disappointing fourth quarter earnings update that was somewhat offset by a bullish outlook from CEO Elon Musk, triggering a host of price target changes from analysts on Wall Street.

Tesla (TSLA) released its fourth-quarter earnings yesterday, Jan. 29. The company missed both the top-line and bottom-line estimates in the quarter, and the commentary on its short-term outlook wasn’t particularly convincing.

Tesla's fourth-quarter earnings and revenue fell short of analysts' estimates, sending shares down by 4% in extended trading on Wednesday. Automotive revenue sank 8%. The company attributed the decline in revenue to lower average selling prices for its Model 3,

Key Takeaways Tesla shares gained ground in extended trading on Wednesday as optimism over the automaker's self-driving outlook trumped fourth-quarter results that came in below Wall Street’s expectations.