Tesla Motors’ (TSLA) “Equal Weight” Rating Reiterated at Morgan Stanley
Tesla Motors Inc. (NASDAQ:TSLA)‘s stock had its “equal weight” rating reissued by research analysts at Morgan Stanley in a research note issued on Thursday. They currently have a $245.00 price objective on the electric vehicle producer’s stock. Morgan Stanley’s price objective points to a potential upside of 22.35% from the stock’s previous close.
Other research analysts have also issued research reports about the company. RBC Capital Markets set a $210.00 price objective on Tesla Motors and gave the company a “hold” rating in a research report on Thursday, July 21st. Barclays PLC set a $165.00 price objective on Tesla Motors and gave the company a “sell” rating in a research report on Tuesday, July 19th. Vetr lowered Tesla Motors from a “buy” rating to a “hold” rating and set a $216.16 price objective for the company. in a research report on Monday, September 26th. Zacks Investment Research lowered Tesla Motors from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Global Equities Research restated an “overweight” rating and set a $385.00 price objective on shares of Tesla Motors in a research report on Friday, July 1st. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $246.30.
Tesla Motors (NASDAQ:TSLA) traded down 0.63% on Thursday, reaching $200.24. The company’s stock had a trading volume of 2,495,413 shares. The firm has a 50-day moving average price of $204.72 and a 200 day moving average price of $221.12. Tesla Motors has a 52-week low of $141.05 and a 52-week high of $269.34. The firm’s market capitalization is $29.77 billion.
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Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share 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 firm earned $1.56 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm posted ($0.48) earnings per share. Tesla Motors’s revenue was up 30.5% compared to the same quarter last year. Equities analysts anticipate that Tesla Motors will post ($0.93) earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its stake in 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 valued at $2,773,818,000 after buying an additional 1,137,759 shares during the period. Vanguard Group Inc. raised its stake in 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 valued at $1,038,976,000 after buying an additional 578,459 shares during the period. Bloom Tree Partners LLC purchased a new stake in Tesla Motors during the first quarter valued at approximately $59,515,000. State Treasurer State of Michigan raised its stake in 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 valued at $72,095,000 after buying an additional 234,802 shares during the period. Finally, Blue Ridge Capital L.L.C. purchased a new stake in Tesla Motors during the second quarter valued at approximately $40,596,000. 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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