Tesla Inc. (TSLA) Receives New Coverage from Analysts at Citigroup Inc.
Citigroup Inc. started coverage on shares of Tesla Inc. (NASDAQ:TSLA) in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $357.00 price target on the electric vehicle producer’s stock. Citigroup Inc.’s target price suggests a potential upside of 8.21% from the stock’s previous close.
A number of other research analysts have also weighed in on TSLA. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Tesla in a research note on Thursday, March 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $305.00 price objective on shares of Tesla in a research note on Saturday, March 25th. Vetr lowered shares of Tesla from a “sell” rating to a “strong sell” rating and set a $231.01 price objective on the stock. in a research note on Monday, March 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $187.00 price objective on shares of Tesla in a research note on Tuesday, March 28th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $368.00 price objective (up from $292.00) on shares of Tesla in a research note on Tuesday, March 28th. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $296.39.
Shares of Tesla (TSLA) traded up 1.43% during midday trading on Thursday, reaching $329.92. 5,166,188 shares of the company’s stock traded hands. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99. The company has a 50 day moving average of $350.76 and a 200 day moving average of $295.40. The firm’s market cap is $54.19 billion.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by $1.30. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. On average, equities analysts predict that Tesla will post ($5.75) EPS for the current fiscal year.
In other Tesla news, Director Robyn M. Denholm sold 20,000 shares of Tesla stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $311.76, for a total transaction of $6,235,200.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $6,235,200. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 2,500 shares of Tesla stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $315.67, for a total transaction of $789,175.00. Following the sale, the director now owns 168,355 shares of the company’s stock, valued at $53,144,622.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 242,290 shares of company stock valued at $74,919,505. 23.10% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in TSLA. Acropolis Investment Management LLC bought a new stake in shares of Tesla during the second quarter valued at about $122,000. North Star Investment Management Corp. raised its stake in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after buying an additional 9 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of Tesla during the first quarter valued at about $101,000. SRS Capital Advisors Inc. raised its stake in shares of 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, V Wealth Management LLC bought a new stake in shares of Tesla during the second quarter valued at about $150,000. Institutional investors and hedge funds own 63.75% of the company’s stock.
Tesla Company Profile
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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