Morgan Stanley Reaffirms Equal Weight Rating for Tesla Motors Inc. (TSLA)
Tesla Motors Inc. (NASDAQ:TSLA)‘s stock had its “equal weight” rating reissued by research analysts at Morgan Stanley in a report released on Wednesday. They presently have a $245.00 target price on the electric vehicle producer’s stock. Morgan Stanley’s price objective would indicate a potential upside of 24.61% from the company’s current price.
A number of other brokerages have also commented on TSLA. Robert W. Baird reaffirmed an “outperform” rating and set a $338.00 price objective on shares of Tesla Motors in a research report on Tuesday, July 5th. Pacific Crest reaffirmed a “hold” rating on shares of Tesla Motors in a research report on Wednesday, September 28th. Piper Jaffray Cos. started coverage on shares of Tesla Motors in a research report on Thursday, June 9th. They set a “neutral” rating and a $223.00 price objective for the company. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $240.00 target price on shares of Tesla Motors in a research note on Monday, July 25th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $290.00 target price on shares of Tesla Motors in a research note on Wednesday, July 6th. 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 issued a strong buy rating to the stock. The stock currently 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 midday trading on Wednesday, reaching $196.61. The company had a trading volume of 3,493,018 shares. The firm’s 50 day moving average price is $207.24 and its 200-day moving average price is $221.71. Tesla Motors has a 12 month low of $141.05 and a 12 month high of $269.34. The company’s market capitalization is $29.23 billion.
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Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.55. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.67 billion. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.48) EPS. Analysts anticipate that Tesla Motors will post ($0.93) earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its position in Tesla Motors by 14.5% in the third quarter. Advisory Services Network LLC now owns 489 shares of the electric vehicle producer’s stock valued at $100,000 after buying an additional 62 shares in the last quarter. Trust Co. of Vermont raised its position in Tesla Motors by 21.6% in the second quarter. Trust Co. of Vermont now owns 535 shares of the electric vehicle producer’s stock valued at $114,000 after buying an additional 95 shares in the last quarter. Toronto Dominion Bank raised its position in Tesla Motors by 171.5% in the second quarter. Toronto Dominion Bank now owns 544 shares of the electric vehicle producer’s stock valued at $115,000 after buying an additional 1,305 shares in the last quarter. Proficio Capital Partners LLC raised its position in Tesla Motors by 56.1% in the second quarter. Proficio Capital Partners LLC now owns 501 shares of the electric vehicle producer’s stock valued at $116,000 after buying an additional 180 shares in the last quarter. Finally, D. Scott Neal Inc. raised its position in Tesla Motors by 21.3% in the second quarter. D. Scott Neal Inc. now owns 570 shares of the electric vehicle producer’s stock valued at $121,000 after buying an additional 100 shares in the last quarter. 66.62% of the stock is currently owned by hedge funds and other institutional investors.
Tesla Motors Company Profile
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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