Tesla Motors’ (TSLA) Outperform Rating Reiterated at Robert W. Baird
Tesla Motors Inc. (NASDAQ:TSLA)‘s stock had its “outperform” rating reaffirmed by Robert W. Baird in a report released on Thursday. They currently have a $338.00 price objective on the electric vehicle producer’s stock. Robert W. Baird’s target price would suggest a potential upside of 68.80% from the company’s current price.
Several other equities research analysts also recently issued reports on the company. Royal Bank Of Canada restated a “hold” rating on shares of Tesla Motors in a report on Saturday, July 9th. Vetr downgraded Tesla Motors from a “buy” rating to a “hold” rating and set a $224.81 price objective on the stock. in a report on Monday, July 11th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Tesla Motors in a report on Wednesday, June 29th. Morgan Stanley restated an “equal weight” rating and set a $245.00 price objective on shares of Tesla Motors in a report on Thursday. Finally, Zacks Investment Research upgraded Tesla Motors from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Tesla Motors has a consensus rating of “Hold” and an average target price of $246.30.
Shares of Tesla Motors (NASDAQ:TSLA) traded down 0.63% during midday trading on Thursday, hitting $200.24. The company had a trading volume of 2,495,413 shares. The company’s market cap is $29.77 billion. The stock’s 50-day moving average price is $204.60 and its 200-day moving average price is $220.98. 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 announced its earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.51) by $0.55. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.48) earnings per share. On average, equities research analysts forecast that Tesla Motors will post ($0.93) EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Gulf International Bank UK Ltd increased its position in shares of Tesla Motors by 25.0% in the third quarter. Gulf International Bank UK Ltd now owns 36,136 shares of the electric vehicle producer’s stock valued at $7,372,000 after buying an additional 7,225 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Tesla Motors by 3.0% in the third quarter. Capstone Asset Management Co. now owns 2,669 shares of the electric vehicle producer’s stock valued at $545,000 after buying an additional 77 shares in the last quarter. Daiwa SB Investments Ltd. purchased a new position in shares of Tesla Motors during the third quarter valued at approximately $1,000,000. British Columbia Investment Management Corp increased its position in shares of Tesla Motors by 0.6% in the third quarter. British Columbia Investment Management Corp now owns 50,944 shares of the electric vehicle producer’s stock valued at $10,394,000 after buying an additional 311 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of 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. Institutional investors and hedge funds own 66.62% of the company’s stock.
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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