NEW YORK (TheStreet) -- Tesla Motors (TSLA) stock is surging by 14.15% to $164 in after-hours trading on Wednesday, as its optimistic forecast for 2016 vehicle deliveries overshadows a 2015 fourth quarter earnings and revenue miss.
Tesla anticipates "even faster delivery growth" than in 2015 and non-GAAP profitability for the current year, according to a statement.
After the market close, the electric vehicles manufacturer announced that it expects to deliver between 80,000 and 90,000 new Model S and Model X vehicles during 2016.
Analysts from firms such as Morgan Stanley, Pacific Crest and Barclays recently warned that orders for Tesla's newly-released Model X were likely below projections.
The company's Model 3 is on schedule for productions and deliveries in late 2017.
Despite its bullish forecast, Tesla nonetheless reported an adjusted loss of 87 cents per share for the most recent quarter, far short of analysts' projections for earnings of 10 cents per share.
Revenue of $1.75 billion similarly missed estimates for $1.79 billion.
Tesla reported a loss of 13 cents per share on revenue of $1.095 billion for the year-ago period.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.
Tesla's weaknesses include its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: TSLA
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.