Yesterday, Tesla Motors Inc (NASDAQ:TSLA) revealed its fiscal third quarter proved to be its greatest one yet with sales from 24,500 vehicles, Tesla’s best since CEO Elon Musk first founded the company 13 years ago. This indicates a 70% upsurge from the electric car giant’s second fiscal quarter, garnering over twice the delivery numbers compared to this quarter last year.

Considering that last quarter, TSLA came short of its delivery guidance of 17,000 to the tune of close to 3,000 vehicles, this is a distinct improvement. One quarter later, production climbed 37% to hit 25,185 vehicles that translated to Tesla’s big third-quarter win.

Tesla shares reacted to the news, rising nearly 5% to $214.65 as of this writing.

Back in August, TSLA suffered yet another quarterly loss, marking its thirteenth consecutive miss. In an August 29 email to employees, Musk cheekily commented, “It would be awesome to throw a pie in the face of all the naysayers on Wall Street who keep insisting that Tesla will always be a money-loser!” Clearly, Musk is relishing this victory lap.

This bodes well for Musk as he makes strides to meet his company’s current guidance to deliver 50,000 cars by the close of the second half of 2016. Considering TSLA delivered 50,580 cars when factoring in the whole of 2015, although this heightened production rate can be championed as a milestone grand slam for the giant, Musk has set incredibly lofty goals for the company.

Yet, Musk seems arguably up to the challenge. After fallout from accidents connected to the company’s autopilot technological system, Musk took to task to upgrade the software. TSLA also had all the more incentive to enhance its operating system after Chinese researchers hacked it. The company has dealt with its fair share of struggles, still having yet to turn a profit, but this successful news could indicate the tide is turning for the giant at last.

As TSLA drums up its production and delivery, investors wait to see whether the company can hit production of 500,000 electric vehicles every year by the forecasted year of 2018, and reach one million annually by the year 2020.

On the ratings front, Tesla has been the subject of a number of recent research reports. In a report issued on September 28, Baird analyst Ben Kallo reiterated a Buy rating on TSLA, with a price target of $338, which implies an upside of 66% from current levels. Separately, on the same day, Pacific Crest’s Brad Erickson maintained a Hold rating on the stock .

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ben Kallo and Brad Erickson have a total average return of 0.6% and -5.6% respectively. Kallo has a success rate of 44% and is ranked #2110 out of 4198 analysts, while Erickson has a success rate of 50% and is ranked #3670.

Overall, 4 research analysts have rated the stock with a Sell rating, 6 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $210.00 which is 2.9% above where the stock closed last Friday.

Tesla Motors, Inc. engages in the designing, development, manufacturing and selling of electric vehicles and electric power train components. Its products include electric vehicles such as the Model S, Model X and the Tesla Roadster.