Tesla, Inc. (NASDAQ: TSLA) bull Cathie Wood-run Ark Invest on Friday gave a new perspective on the firm's long-term price target for the stock of the electric vehicle maker.

What Happened: Ark’s 2026 price target for Tesla stock would be about $500 per share, based on its EV business alone, the firm’s analyst Tasha Keeney said. The projection is adjusted for the 3-for-1 stock split that became effective on Aug. 25, 2022.