Robert W. Baird Reiterates “Outperform” Rating for Tesla Inc. (NASDAQ:TSLA)
Tesla Inc. (NASDAQ:TSLA)‘s stock had its “outperform” rating reissued by equities researchers at Robert W. Baird in a research note issued to investors on Wednesday. They currently have a $358.00 target price on the electric vehicle producer’s stock. Robert W. Baird’s target price would indicate a potential upside of 5.42% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and raised their price target for the stock from $193.00 to $464.00 in a research report on Tuesday, June 13th. Vetr lowered Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 price target on the stock. in a research report on Tuesday, July 11th. Guggenheim raised their price target on Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Pacific Crest reiterated an “equal weight” rating on shares of Tesla in a report on Tuesday, June 6th. Finally, Zacks Investment Research downgraded Tesla from a “buy” rating to a “hold” rating in a report on Friday, May 5th. Seven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $300.64.
Tesla (NASDAQ TSLA) traded up 1.2847% during mid-day trading on Wednesday, reaching $343.9628. The company’s stock had a trading volume of 4,300,855 shares. The stock’s 50 day moving average is $350.49 and its 200 day moving average is $297.56. The company’s market cap is $56.50 billion. Tesla has a 12 month low of $178.19 and a 12 month high of $386.99.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.56 billion. Equities research analysts predict that Tesla will post ($5.95) EPS for the current year.
In related news, Director Robyn M. Denholm sold 20,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $311.76, for a total value of $6,235,200.00. Following the sale, the director now owns 20,000 shares in the company, valued at $6,235,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 2,500 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $315.67, for a total value of $789,175.00. Following the completion of the sale, the director now owns 168,355 shares in the company, valued at approximately $53,144,622.85. The disclosure for this sale can be found here. Insiders sold 242,290 shares of company stock worth $74,919,505 in the last quarter. 23.10% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of TSLA. Acropolis Investment Management LLC acquired a new stake in shares of Tesla during the second quarter worth about $122,000. North Star Investment Management Corp. increased 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 worth $122,000 after buying an additional 9 shares during the period. Carroll Financial Associates Inc. increased its stake in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after buying an additional 28 shares during the period. Crestwood Advisors Group LLC acquired a new stake in shares of Tesla during the first quarter worth about $101,000. Finally, SRS Capital Advisors Inc. increased 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 worth $109,000 after buying an additional 364 shares during the period. Institutional investors own 63.78% 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.
Receive News & Ratings for Tesla Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla Inc. and related companies with MarketBeat.com's FREE daily email newsletter.