Tesla Inc. (TSLA) PT Raised to $317.00
Tesla Inc. (NASDAQ:TSLA) had its price objective hoisted by equities researchers at Morgan Stanley from $305.00 to $317.00 in a report issued on Monday, MarketBeat reports. The brokerage presently has an “equal weight” rating on the electric vehicle producer’s stock. Morgan Stanley’s target price would indicate a potential downside of 13.18% from the stock’s previous close.
A number of other brokerages have also recently weighed in on TSLA. Zacks Investment Research raised Tesla from a “hold” rating to a “buy” rating and set a $345.00 price target for the company in a research report on Tuesday, April 25th. Vetr cut Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 price target for the company. in a research report on Thursday, August 3rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $240.00 price target on shares of Tesla in a research report on Thursday, May 4th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $180.00 price objective (down from $190.00) on shares of Tesla in a research note on Wednesday, July 5th. Finally, Royal Bank Of Canada lifted their price objective on Tesla from $314.00 to $345.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 3rd. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $311.66.
Tesla (TSLA) traded up 1.61% during midday trading on Monday, hitting $363.63. The stock had a trading volume of 3,547,988 shares. The stock’s market cap is $60.69 billion. Tesla has a 12-month low of $178.19 and a 12-month high of $386.99. The company’s 50-day moving average price is $341.13 and its 200 day moving average price is $307.07.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm earned ($1.06) earnings per share. The business’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, equities research analysts predict that Tesla will post ($6.31) earnings per share for the current fiscal year.
In other Tesla news, Director Kimbal Musk sold 4,690 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the completion of the sale, the director now owns 166,164 shares in the company, valued at approximately $61,095,179.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.10% of the company’s stock.
Several hedge funds have recently modified their holdings of TSLA. Crestwood Advisors Group LLC acquired a new stake in shares of Tesla during the first quarter valued at approximately $101,000. Pittenger & Anderson Inc. boosted its stake in shares of Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after buying an additional 50 shares during the last quarter. SRS Capital Advisors Inc. boosted 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. Winfield Associates Inc. boosted its stake in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Tesla during the first quarter valued at approximately $122,000. Institutional investors own 62.92% 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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