Tesla Inc. (TSLA) Price Target Increased to $317.00 by Analysts at Morgan Stanley

Tesla Inc. (NASDAQ:TSLA) had its target price raised by equities research analysts at Morgan Stanley from $305.00 to $317.00 in a research note issued on Monday, Marketbeat Ratings reports. The brokerage currently has an “equal weight” rating on the electric vehicle producer’s stock. Morgan Stanley’s target price would suggest a potential downside of 12.51% from the stock’s previous close.

Several other equities analysts have also weighed in on TSLA. Robert W. Baird reaffirmed an “outperform” rating and set a $368.00 target price on shares of Tesla in a report on Monday, April 17th. Guggenheim reaffirmed a “buy” rating and set a $320.00 target price on shares of Tesla in a report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $187.00 target price on shares of Tesla in a report on Saturday, April 22nd. Zacks Investment Research raised shares of Tesla from a “hold” rating to a “buy” rating and set a $345.00 target price for the company in a report on Tuesday, April 25th. Finally, Bank of America Corporation cut their target price on shares of Tesla from $170.00 to $165.00 and set an “underperform” rating for the company in a report on Wednesday, April 26th. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $310.34.

Shares of Tesla (TSLA) opened at 362.33 on Monday. The stock’s market capitalization is $60.47 billion. Tesla has a 52 week low of $178.19 and a 52 week high of $386.99. The stock has a 50 day moving average of $340.14 and a 200-day moving average of $309.43.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 119.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.06) EPS. On average, equities research analysts expect that Tesla will post ($6.34) EPS for the current year.

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In related news, Director Kimbal Musk sold 2,190 shares of the company’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 transaction of $703,778.40. Following the sale, the director now directly owns 160,274 shares in the company, valued at $51,505,652.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 23.10% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Lincoln National Corp purchased a new stake in Tesla during the first quarter worth $226,000. Great West Life Assurance Co. Can raised its position in shares of Tesla by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock valued at $25,129,000 after buying an additional 1,802 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Tesla by 0.9% in the first quarter. Perigon Wealth Management LLC now owns 8,025 shares of the electric vehicle producer’s stock valued at $2,233,000 after buying an additional 74 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock valued at $1,651,654,000 after buying an additional 280,941 shares in the last quarter. Finally, Gemmer Asset Management LLC raised its position in shares of Tesla by 8.3% in the first quarter. Gemmer Asset Management LLC now owns 759 shares of the electric vehicle producer’s stock valued at $211,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 62.92% 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.