Tesla Inc. (TSLA) Given Consensus Rating of “Hold” by Analysts

Tesla Inc. (NASDAQ:TSLA) has earned a consensus rating of “Hold” from the thirty-six brokerages that are currently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $303.64.

TSLA has been the subject of several recent analyst reports. Goldman Sachs Group, Inc. (The) boosted their price objective on Tesla from $180.00 to $190.00 in a report on Friday, August 4th. Zacks Investment Research raised Tesla from a “hold” rating to a “buy” rating and set a $345.00 price objective for the company in a report on Tuesday, April 25th. Dougherty & Co reissued a “buy” rating and set a $375.00 price objective (down previously from $500.00) on shares of Tesla in a report on Wednesday, April 26th. Guggenheim boosted their price objective on Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Finally, Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $193.00 to $464.00 in a report on Tuesday, June 13th.

Tesla (NASDAQ:TSLA) opened at 341.35 on Wednesday. The company’s market capitalization is $56.97 billion. Tesla has a one year low of $178.19 and a one year high of $386.99. The company’s 50-day moving average is $338.54 and its 200 day moving average is $312.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm earned ($1.06) earnings per share. Tesla’s revenue was up 119.6% on a year-over-year basis. Analysts predict that Tesla will post ($6.17) EPS for the current year.

COPYRIGHT VIOLATION WARNING: “[[title]]” was originally published by [[site]] and is the property of of [[site]]. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at [[permalink]].

In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the sale, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 23.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in TSLA. FMR LLC boosted its stake in Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock worth $6,804,556,000 after buying an additional 2,400,034 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after buying an additional 336,130 shares in the last quarter. Vanguard Group Inc. boosted its stake in Tesla by 4.9% in the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after buying an additional 292,602 shares in the last quarter. Capital World Investors boosted its stake in Tesla by 0.6% in the second quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock worth $1,090,815,000 after buying an additional 17,452 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Tesla by 4.3% in the second quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock worth $1,085,801,000 after buying an additional 124,511 shares in the last quarter. 62.92% of the stock is currently owned by hedge funds and other institutional investors.

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.