Tesla has reported first quarter deliveries of 184,800 vehicles, beating the FactSet analyst consensus estimate of 172,230 vehicles by 7%. Despite Model S and Model X production lines being down as Tesla works to refresh both vehicles, Tesla was able to grow deliveries by 2% sequentially and 109% to last year, setting a new quarterly record.

How will the market react to Tesla’s numbers when the stock starts trading on Monday? So far the reception has been positive.

Shortly after the numbers were released, Jim Cramer responded to a tweet which suggested TSLA stock “should jump to $1,000 soon and hit $1,200 or more in 2022,” by saying it was “aggressive but not out of the ballpark.” Prior to the Q1 report, TSLA closed at a share price of $661.75, -6% year to date.

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Gene Munster of Loup Ventures shared his thoughts on Tesla’s report on Twitter — “Impressive number given the headwinds in March related [to] buyers holding off for upcoming EV credits and S&X refresh.”

“We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production,” Tesla noted in the release.

Prior to Friday’s release, analysts were expecting 831,000 deliveries for Tesla on the year, per estimates compiled by the company. With roughly 185,000 cars delivered in Q1, Tesla will need to ship 646,000 vehicles over the following three quarters — about 215,000 per quarter — to meet Wall St.’s expectations.

Rumor has it that Tesla has bigger aspirations. Leaked details from a company call suggest Tesla may be targeting 1,000,000 deliveries in 2021.

Pierre Ferragu of New Street Research who is bullish on the stock but expected deliveries to miss consensus noted, “The one thing we probably got wrong: The ramp of Model Y in China and Fremont. Will also help 2Q21 look awesome and get the full year close to 1 million deliveries!”

Expect analysts to continue to weigh in early next week as investors prepare for Tesla’s Q1 earnings report, likely to be scheduled after market close on Wednesday, April 21.

Disclosure: Rob Maurer is long TSLA stock and derivatives.