Tesla’s (TSLA) “Outperform” Rating Reaffirmed at Robert W. Baird
Tesla Inc (NASDAQ:TSLA)‘s stock had its “outperform” rating reissued by analysts at Robert W. Baird in a note issued to investors on Wednesday. They currently have a $368.00 price objective on the electric vehicle producer’s stock. Robert W. Baird’s price target points to a potential upside of 18.63% from the stock’s previous close.
Other analysts also recently issued reports about the stock. Dougherty & Co dropped their price objective on shares of Tesla from $500.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd. Guggenheim reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Tesla in a report on Monday, February 27th. Zacks Investment Research raised shares of Tesla from a “hold” rating to a “buy” rating and set a $345.00 price objective on the stock in a report on Tuesday, April 25th. TheStreet raised shares of Tesla from a “d+” rating to a “c-” rating in a report on Wednesday, January 25th. Finally, Pacific Crest reaffirmed an “equal weight” rating on shares of Tesla in a report on Thursday, February 23rd. Eight equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company’s stock. Tesla presently has a consensus rating of “Hold” and an average price target of $274.06.
Shares of Tesla (NASDAQ:TSLA) traded up 2.09% during midday trading on Wednesday, reaching $310.22. 5,041,692 shares of the company traded hands. Tesla has a 1-year low of $178.19 and a 1-year high of $327.66. The company has a 50 day moving average price of $309.53 and a 200 day moving average price of $252.54. The company’s market capitalization is $50.96 billion.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the consensus estimate of ($0.67) by $1.30. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Tesla had a negative net margin of 14.74% and a negative return on equity of 29.17%. On average, analysts expect that Tesla will post ($5.64) earnings per share for the current year.
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In other Tesla news, Director Kimbal Musk sold 2,500 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $286.28, for a total transaction of $715,700.00. Following the completion of the transaction, the director now owns 170,546 shares of the company’s stock, valued at $48,823,908.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Elon Musk bought 95,420 shares of the stock in a transaction on Friday, March 17th. The shares were bought at an average cost of $262.00 per share, with a total value of $25,000,040.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 242,791 shares of company stock valued at $74,745,344. 27.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Crestwood Advisors Group LLC acquired a new position in Tesla during the first quarter valued at approximately $101,000. Independent Advisor Alliance acquired a new position in Tesla during the fourth quarter valued at approximately $102,000. Parallel Advisors LLC acquired a new position in Tesla during the fourth quarter valued at approximately $104,000. SRS Capital Advisors Inc. raised its position in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 364 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in Tesla during the first quarter valued at approximately $122,000. 57.29% of the stock is owned by institutional investors and hedge funds.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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