Tesla Motors Inc. (TSLA) Receives Outperform Rating from Robert W. Baird
Tesla Motors Inc. (NASDAQ:TSLA)‘s stock had its “outperform” rating reiterated by research analysts at Robert W. Baird in a research note issued on Thursday. They currently have a $338.00 price target on the electric vehicle producer’s stock. Robert W. Baird’s price objective would suggest a potential upside of 68.80% from the stock’s previous close.
TSLA has been the subject of a number of other research reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $242.00 target price on shares of Tesla Motors in a report on Wednesday, June 22nd. S&P Equity Research raised Tesla Motors from a “sell” rating to a “hold” rating and set a $200.00 price target for the company in a research note on Sunday, July 24th. Oppenheimer Holdings Inc. reaffirmed a “” rating on shares of Tesla Motors in a research note on Monday, July 25th. Vetr raised Tesla Motors from a “buy” rating to a “strong-buy” rating and set a $230.20 price target for the company in a research note on Wednesday, June 22nd. Finally, Barclays PLC set a $165.00 price target on Tesla Motors and gave the stock a “sell” rating in a research note on Tuesday, July 19th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $246.30.
Shares of Tesla Motors (NASDAQ:TSLA) traded down 0.63% during midday trading on Thursday, hitting $200.24. 2,495,413 shares of the company were exchanged. The stock’s market capitalization is $29.77 billion. The company has a 50-day moving average price of $204.60 and a 200-day moving average price of $220.98. Tesla Motors has a 52-week low of $141.05 and a 52-week 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) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.67 billion. During the same period last year, the business posted ($0.48) EPS. Tesla Motors’s revenue was up 30.5% compared to the same quarter last year. On average, analysts forecast that Tesla Motors will post ($0.93) EPS for the current year.
A number of institutional investors have recently made changes to their positions in TSLA. Baillie Gifford & Co. increased its position in shares of Tesla Motors by 9.5% in the second quarter. Baillie Gifford & Co. now owns 13,066,791 shares of the electric vehicle producer’s stock worth $2,773,818,000 after buying an additional 1,137,759 shares during the period. Vanguard Group Inc. increased its position in shares of Tesla Motors by 13.4% in the second quarter. Vanguard Group Inc. now owns 4,894,369 shares of the electric vehicle producer’s stock worth $1,038,976,000 after buying an additional 578,459 shares during the period. Bloom Tree Partners LLC acquired a new position in shares of Tesla Motors during the first quarter worth $59,515,000. State Treasurer State of Michigan increased its position in shares of Tesla Motors by 224.0% in the second quarter. State Treasurer State of Michigan now owns 339,623 shares of the electric vehicle producer’s stock worth $72,095,000 after buying an additional 234,802 shares during the period. Finally, Blue Ridge Capital L.L.C. acquired a new position in shares of Tesla Motors during the second quarter worth $40,596,000. 66.62% of the stock is currently owned by hedge funds and other institutional investors.
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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