NEW YORK (TheStreet) -- Shares of Tesla Motors (TSLA) - Get Report are rebounding slightly in pre-market trading today, up 0.84% to $197.30, after the company announced plans yesterday of a series of upgrades for its cars to be delivered through the Internet. Shares closed down 2.52% yesterday.

Tesla will roll out the upgrades over the next few months for its Model S electric cars, with the first one coming within the next 10 days, the Wall Street Journal reports.

The upgrades will include software aimed at analyzing routes, road conditions and even topography, to alert the driver if the car is going out of range of a charging location, a move to allay fears of "range anxiety," the concern that the electric vehicle could run out of power mid-trip.

"You don't need to think ahead or do any calculations. It makes it almost impossible to run out [of power] unless you do it intentionally," CEO Elon Musk said Thursday during a conference call with reporters and analysts.

Additionally, an imminent upgrade would enable a self-driving feature, allowing the car to operate on its own on highways.

Other upcoming features include blind-spot detection, emergency automatic braking, and a "valet" mode, which would prevent an attendant from accessing personal information or driving at high speeds.

"We really designed the Model S to be a very sophisticated computer on wheels," Musk noted.

Separately, Ben Kallo, senior analyst at R.W. Baird, has an "outperform" rating on the stock with a $275 price target. He made Tesla his top pick for the year.

The automaker continues to make software updates to the car, which will boost the value of the vehicle over time, Kallo said on CNBC's Fast Money yesterday. This will diminish the bearish argument that Tesla cars quickly lose their value. Tesla is boosting production, is seeing some improvements in China and is still on track to deliver its Model X on time, he added.

Palo Alto, CA-based Tesla Motors designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.

Insight from TheStreet's Research Team:

The Street's Jim Cramer, Portfolio Manager of Action Alerts PLUS Charitable Trust Portfolio, recently commented on Tesla on CNBC's Mad Money, calling it "the ultimate cult stock."

In Cramer's perspective, Tesla doesn't trade based on its bottom line or earnings. People buy the stock because they love the car and the "sexy" press releases. That makes it hard to value for him.

Separately, TheStreet Ratings team rates TESLA MOTORS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate TESLA MOTORS INC (TSLA) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, poor profit margins and generally disappointing historical performance in the stock itself." 

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Automobiles industry. The net income has significantly decreased by 561.8% when compared to the same quarter one year ago, falling from -$16.26 million to -$107.63 million.
• Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Automobiles industry and the overall market, TESLA MOTORS INC's return on equity significantly trails that of both the industry average and the S&P 500.
• Net operating cash flow has significantly decreased to -$86.40 million or 166.58% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
• The gross profit margin for TESLA MOTORS INC is currently lower than what is desirable, coming in at 34.46%. Regardless of TSLA's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, TSLA's net profit margin of -11.25% significantly underperformed when compared to the industry average.
• The share price of TESLA MOTORS INC has not done very well: it is down 20.88% and has underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
• You can view the full analysis from the report here: TSLA Ratings Report

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