Tesla Inc. (NASDAQ:TSLA) Receives “Outperform” Rating from Robert W. Baird

Tesla Inc. (NASDAQ:TSLA)‘s stock had its “outperform” rating reissued by research analysts at Robert W. Baird in a research report issued to clients and investors on Thursday, August 3rd. They presently have a $368.00 target price on the electric vehicle producer’s stock. Robert W. Baird’s target price would suggest a potential upside of 4.57% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. J P Morgan Chase & Co increased their price objective on Tesla from $185.00 to $190.00 and gave the company an “underweight” rating in a report on Monday, May 8th. Goldman Sachs Group, Inc. (The) set a $190.00 price target on Tesla and gave the stock a “sell” rating in a research note on Monday, May 15th. Guggenheim upped their price target on Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Morgan Stanley cut Tesla from an “overweight” rating to an “equal weight” rating and set a $305.00 price target for the company. in a research note on Monday, May 15th. Finally, Cowen and Company restated an “underperform” rating and set a $155.00 price target on shares of Tesla in a research note on Monday, May 1st. Eight analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $310.84.

Shares of Tesla (NASDAQ:TSLA) traded down 3.03% during trading on Thursday, hitting $351.92. 5,027,660 shares of the company traded hands. The stock’s market capitalization is $58.73 billion. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99. The company has a 50-day moving average of $340.15 and a 200-day moving average of $309.81.

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, beating the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company’s revenue was up 119.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.06) earnings per share. Equities analysts expect that Tesla will post ($6.34) EPS for the current year.

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In related news, Director Kimbal Musk sold 4,690 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now directly owns 166,164 shares in the company, valued at approximately $61,095,179.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 23.10% of the company’s stock.

Several large investors have recently made changes to their positions in TSLA. Cetera Investment Advisers acquired a new stake in Tesla during the second quarter valued at about $1,495,000. EP Wealth Advisors LLC increased its stake in Tesla by 14.8% in the second quarter. EP Wealth Advisors LLC now owns 1,193 shares of the electric vehicle producer’s stock valued at $431,000 after buying an additional 154 shares in the last quarter. Advisory Services Network LLC increased its stake in Tesla by 21.6% in the second quarter. Advisory Services Network LLC now owns 534 shares of the electric vehicle producer’s stock valued at $193,000 after buying an additional 95 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Tesla during the second quarter valued at about $314,000. Finally, WINTON GROUP Ltd acquired a new stake in Tesla during the second quarter valued at about $681,000. Institutional investors and hedge funds 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.