Berenberg Bank Reiterates $470.00 Price Target for Tesla (TSLA)

Berenberg Bank set a $470.00 price objective on Tesla (NASDAQ:TSLA) in a report released on Thursday morning. The brokerage currently has a buy rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other reports. ValuEngine raised Tesla from a sell rating to a hold rating in a research note on Wednesday, December 6th. Sanford C. Bernstein set a $265.00 price objective on Tesla and gave the company a hold rating in a research note on Monday, November 13th. Barclays reaffirmed a sell rating on shares of Tesla in a research note on Sunday, October 15th. Royal Bank of Canada dropped their price objective on Tesla from $345.00 to $340.00 and set a sector perform rating for the company in a research note on Thursday, November 2nd. Finally, Vetr raised Tesla from a strong sell rating to a sell rating and set a $282.88 price objective for the company in a research note on Thursday, November 2nd. Twelve equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $322.45.

Shares of Tesla (NASDAQ:TSLA) opened at $310.42 on Thursday. Tesla has a one year low of $242.01 and a one year high of $389.61. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $52,170.00, a price-to-earnings ratio of -26.33 and a beta of 0.97.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.12) by $0.08. Tesla had a negative return on equity of 32.11% and a negative net margin of 16.68%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the firm posted ($0.69) earnings per share. The company’s revenue was up 43.9% on a year-over-year basis. sell-side analysts predict that Tesla will post -6.87 EPS for the current fiscal year.

In other Tesla news, VP Eric Branderiz sold 1,229 shares of Tesla stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $312.61, for a total transaction of $384,197.69. Following the completion of the sale, the vice president now directly owns 4,808 shares of the company’s stock, valued at approximately $1,503,028.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Douglas Field sold 1,000 shares of Tesla stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $334.87, for a total value of $334,870.00. Following the sale, the vice president now directly owns 20,128 shares of the company’s stock, valued at $6,740,263.36. The disclosure for this sale can be found here. Insiders have sold a total of 10,231 shares of company stock valued at $3,292,431 over the last ninety days. 23.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC purchased a new stake in Tesla during the 3rd quarter worth about $100,000. Mckinley Capital Management LLC Delaware purchased a new stake in Tesla during the 3rd quarter worth about $106,000. First Personal Financial Services purchased a new stake in Tesla during the 3rd quarter worth about $148,000. WFG Advisors LP lifted its holdings in Tesla by 106.8% during the 2nd quarter. WFG Advisors LP now owns 457 shares of the electric vehicle producer’s stock worth $165,000 after buying an additional 236 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Tesla by 21.6% during the 2nd quarter. Advisory Services Network LLC now owns 534 shares of the electric vehicle producer’s stock worth $193,000 after buying an additional 95 shares during the last quarter. 57.35% of the stock is owned by institutional investors.

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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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