Sanford C. Bernstein Analysts Give Tesla Inc. (NASDAQ:TSLA) a $265.00 Price Target

Tesla Inc. (NASDAQ:TSLA) received a $265.00 price objective from equities research analysts at Sanford C. Bernstein in a report issued on Thursday, July 27th. The brokerage currently has a “neutral” rating on the electric vehicle producer’s stock. Sanford C. Bernstein’s target price indicates a potential downside of 26.86% from the company’s previous close.

Several other equities analysts have also recently commented on TSLA. UBS AG restated a “sell” rating and issued a $160.00 target price on shares of Tesla in a research report on Wednesday, May 3rd. Pacific Crest reaffirmed an “equal weight” rating on shares of Tesla in a report on Thursday, March 30th. Global Equities Research reaffirmed a “buy” rating and set a $385.00 price target on shares of Tesla in a report on Tuesday, June 13th. Morgan Stanley reaffirmed an “equal weight” rating and set a $305.00 price target on shares of Tesla in a report on Monday, June 12th. Finally, Argus reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday, April 12th. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $310.34.

Shares of Tesla (NASDAQ TSLA) traded up 0.94% during mid-day trading on Thursday, reaching $365.72. 1,751,239 shares of the company’s stock traded hands. The stock’s market cap is $61.03 billion. The firm has a 50 day moving average price of $340.14 and a 200-day moving average price of $309.43. Tesla has a 12 month low of $178.19 and a 12 month high of $386.99.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating the 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 business’s revenue for the quarter was up 119.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.06) EPS. On average, analysts predict that Tesla will post ($6.34) earnings per share for the current fiscal year.

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In other news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the transaction, the director now owns 160,274 shares in the company, valued at $51,505,652.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock valued at $6,804,556,000 after buying an additional 2,400,034 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Tesla by 117.7% in the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer’s stock valued at $188,630,000 after buying an additional 366,400 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock valued at $3,792,025,000 after buying an additional 336,130 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Tesla by 4.9% in the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after buying an additional 292,602 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Tesla by 7.6% in the first quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer’s stock valued at $798,576,000 after buying an additional 203,034 shares in the last quarter. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Tesla Company Profile

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.