Shares of Tesla (TSLA - Get Report)  fell by 3.5% Monday after Goldman Sachs cut its full year EPS forecast on the electric car maker and reiterated its "sell" rating on the stock.

Goldman Sachs is expecting Tesla to post a loss of $3.52 per share for the year, greater than its previous expectation for a loss of $3.16 per share.

The firm doesn't believe Tesla is going to be able to reach its previously forecast launch curve.

Goldman Sachs isn't the only analyst firm that is expecting Tesla to post a loss for the year. JPMorgan has an "underweight" rating on Tesla stock and estimates a full year EPS loss of $8.90.

"Although both technology and execution risk seem substantially less than was once feared, expansion into higher-volume segments with lower price points seems fraught with greater risk relative to demand, execution, and competition," JPMorgan said.

Oppenheimer has a "perform" rating on the stock and is expecting a loss for the year of $5.

"While we believe TSLA has the potential to become a transformative technology company and deliver outsized returns for investors, the company's pace of growth, recent questionable decisions around capital allocation, and lack of disclosure keep us on the sidelines," Oppenheimer said.

Tesla will release its 2017 second quarter financial results after the market close on Tuesday, August 2.

Analysts surveyed by FactSet have forecast for a loss of $1.87 per share on revenue of $2.52 billion for the most recent quarter.

Additionally Tesla's Model 3 vehicle, which is aimed at general consumers, has launched. Goldman Sachs said the launch event was "anticlimactic," Market Watch noted. The Model 3 showed no noticeable changes from its earlier test versions.

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