Tesla Motors Inc. (TSLA) Earns “Outperform” Rating from Robert W. Baird
Tesla Motors Inc. (NASDAQ:TSLA)‘s stock had its “outperform” rating reiterated by investment analysts at Robert W. Baird in a report released on Friday. They presently have a $338.00 target price on the electric vehicle producer’s stock. Robert W. Baird’s target price suggests a potential upside of 71.91% from the company’s current price.
TSLA has been the topic of several other reports. Global Equities Research restated a “buy” rating and set a $385.00 price target on shares of Tesla Motors in a report on Monday, June 13th. Royal Bank Of Canada restated a “sector perform” rating and set a $242.00 price target on shares of Tesla Motors in a report on Wednesday, June 22nd. Pacific Crest restated a “hold” rating and set a $212.00 price target on shares of Tesla Motors in a report on Monday, June 13th. S&P Equity Research upgraded Tesla Motors from a “sell” rating to a “hold” rating and set a $200.00 price target on the stock in a report on Sunday, July 24th. Finally, Oppenheimer Holdings Inc. restated a “” rating on shares of Tesla Motors in a report on Monday, July 25th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Tesla Motors has a consensus rating of “Hold” and an average price target of $246.32.
Shares of Tesla Motors (NASDAQ:TSLA) traded down 2.18% during mid-day trading on Friday, hitting $196.61. 3,491,556 shares of the company were exchanged. The company’s market capitalization is $29.23 billion. The firm has a 50 day moving average of $208.01 and a 200 day moving average of $222.01. Tesla Motors has a 12-month low of $141.05 and a 12-month high of $269.34.
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Tesla Motors (NASDAQ:TSLA) last released its earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.55. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The business earned $1.56 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned ($0.48) EPS. The business’s revenue was up 30.5% on a year-over-year basis. Equities research analysts forecast that Tesla Motors will post ($0.93) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of Tesla Motors by 4.1% in the first quarter. Legal & General Group Plc now owns 350,424 shares of the electric vehicle producer’s stock worth $80,517,000 after buying an additional 13,687 shares during the period. Goodwin Daniel L acquired a new position in shares of Tesla Motors during the second quarter worth about $318,000. LMR Partners LLP acquired a new position in shares of Tesla Motors during the second quarter worth about $2,182,000. Gabelli Funds LLC increased its position in shares of Tesla Motors by 3.9% in the second quarter. Gabelli Funds LLC now owns 15,900 shares of the electric vehicle producer’s stock worth $3,375,000 after buying an additional 600 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Tesla Motors by 45.9% in the second quarter. Nisa Investment Advisors LLC now owns 5,400 shares of the electric vehicle producer’s stock worth $1,146,000 after buying an additional 1,700 shares during the period. Hedge funds and other institutional investors own 66.62% of the company’s stock.
About Tesla Motors
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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