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Tesla's path to profitability looks shakier than ever. Here's what Wall Street had to say about the company's disastrous quarter.

Tesla's path to profitability looks shakier than ever. Here's what Wall Street had to say about the company's disastrous quarter.

Goldman Sachs: 'Altogether we expect downward pressure on TSLA shares resulting from the top and bottom line miss.'

JPMorgan: 'Management sounded less committal than prior on the ability to be profitable in all subsequent quarters.'

Price target: $200

Rating: Underweight

"Similar to on the 4Q18 earnings conference call in January when it was unexpectedly announced that long-time CFO Deepak Ahuja would be departing the company, it was announced yesterday that long-time CTO J.B. Straubel would also depart," a team of analysts led by Ryan Brinkman said in a note to clients on Thursday.

He added: "We suspect investors will view the departure of Mr. Straubel as concerning because he had been — along with Mr. Ahuja — to our knowledge the only remaining senior executive besides Mr. Musk that had been with Tesla virtually from the beginning, suggesting he may have served as an important counsel and check against seemingly unilateral decision-making."

Wedbush: 'We continue to believe that the reiteration of 360k to 400k unit guidance for FY19 was a head scratcher.'

Price target: Lowered to $220, from $230

Rating: Neutral

"While demand showed an impressive bounce back this quarter and the company is seeing strong order activity for 3Q, we continue to believe that the reiteration of 360k to 400k unit guidance for FY19 was a head scratcher since the pure math and demand trajectory makes this an Everest-like uphill battle," the analyst Daniel Ives said in a research note to clients on Thursday.

Credit Suisse: 'One of the core challenges will be for Tesla to improve its gross margin profile.'

Price Target: $189

Rating: Underperform

"For Tesla to be more than niche, one of the core challenges will be for Tesla to improve its gross margin profile. The 2Q print showed us that while the Tesla's growth outlook is unchanged, there are nevertheless challenges along the way," Dan Levy, an analyst, said in a research report to clients on Thursday.

Oppenheimer: 'We believe the ongoing management turnover remains a growing concern for investors.'

Price target: Lowered to $356, from $457

Rating: Outperform

"As we lower estimates and our PT, we increasingly believe the success of TSLA both medium- and long-term is dependent on its ability to drive cost out of its battery pack and optimize range to support gross profit per vehicle and volume of sales," Colin Rusch, an analyst, said in a note to clients on Thursday.