Tesla Inc. (NASDAQ:TSLA)‘s stock had its “buy” rating reiterated by investment analysts at Guggenheim in a note issued to investors on Thursday. They presently have a $430.00 price target on the electric vehicle producer’s stock. Guggenheim’s target price points to a potential upside of 18.29% from the company’s current price.
A number of other equities analysts have also recently weighed in on the stock. J P Morgan Chase & Co upped their price objective on shares of Tesla from $185.00 to $190.00 and gave the stock an “underweight” rating in a research report on Monday, May 8th. Goldman Sachs Group, Inc. (The) set a $190.00 price objective on shares of Tesla and gave the stock a “sell” rating in a research report on Monday, May 15th. Morgan Stanley cut shares of Tesla from an “overweight” rating to an “equal weight” rating and set a $305.00 price objective for the company. in a research report on Monday, May 15th. Cowen and Company restated an “underperform” rating and set a $155.00 price objective on shares of Tesla in a research report on Monday, May 1st. Finally, Bank of America Corporation reduced their price objective on shares of Tesla from $170.00 to $165.00 and set an “underperform” rating for the company in a research report on Wednesday, April 26th. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $309.65.
Shares of Tesla (NASDAQ TSLA) opened at 363.53 on Thursday. The stock’s 50 day moving average is $342.69 and its 200-day moving average is $305.52. Tesla has a 12-month low of $178.19 and a 12-month high of $386.99. The stock’s market cap is $60.06 billion.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm’s revenue for the quarter was up 119.6% on a year-over-year basis. During the same period in the prior year, the business posted ($1.06) earnings per share. Equities analysts expect that Tesla will post ($6.23) EPS for the current year.
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In related news, Director Kimbal Musk sold 4,690 shares of Tesla stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total value of $1,724,419.20. Following the completion of the transaction, the director now owns 166,164 shares in the company, valued at $61,095,179.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Crestwood Advisors Group LLC purchased a new position in shares of Tesla during the first quarter worth about $101,000. SRS Capital Advisors Inc. increased its position in shares of Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares in the last quarter. Winfield Associates Inc. increased its position in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after buying an additional 150 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Tesla during the first quarter worth about $122,000. Finally, Acropolis Investment Management LLC purchased a new position in shares of Tesla during the second quarter worth about $122,000. Institutional investors own 63.71% of the company’s stock.
About Tesla
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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