Tesla Motors Given Average Rating of “Buy” by Brokerages (NASDAQ:TSLA)
Shares of Tesla Motors (NASDAQ:TSLA) have been given an average recommendation of “Buy” by the twenty-one brokerages that are covering the stock, Stock Ratings Network.com reports. Eight research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $237.43.
Tesla Motors (NASDAQ:TSLA) opened at 262.3901 on Wednesday. Tesla Motors has a 1-year low of $116.10 and a 1-year high of $265.00. The stock has a 50-day moving average of $230.7 and a 200-day moving average of $215.7. The company’s market cap is $32.701 billion.
Tesla Motors (NASDAQ:TSLA) last released its earnings data on Thursday, July 31st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. The company had revenue of $857.50 million for the quarter, compared to the consensus estimate of $810.57 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 55.3% on a year-over-year basis. On average, analysts predict that Tesla Motors will post $1.09 earnings per share for the current fiscal year.
In other Tesla Motors news, Director Kimbal Musk sold 4,287 shares of the company’s stock on the open market in a transaction dated Monday, August 4th. The stock was sold at an average price of $234.46, for a total transaction of $1,005,130.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on TSLA shares. Analysts at Deutsche Bank upgraded shares of Tesla Motors from a “hold” rating to a “buy” rating in a research note on Monday. They now have a $310.00 price target on the stock, up previously from $220.00. Separately, analysts at Pacific Crest initiated coverage on shares of Tesla Motors in a research note on Tuesday, August 5th. They set an “outperform” rating and a $316.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Tesla Motors from $163.00 to $170.00 in a research note on Friday, August 1st. They now have a “neutral” rating on the stock.
Tesla Motors, Inc (NASDAQ:TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.
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