Tesla Inc. (TSLA) Given New $371.00 Price Target at Citigroup Inc.
Tesla Inc. (NASDAQ:TSLA) had its price objective lifted by Citigroup Inc. from $357.00 to $371.00 in a research report issued on Thursday, MarketBeat reports. The brokerage presently has a “neutral” rating on the electric vehicle producer’s stock. Citigroup Inc.’s price target points to a potential upside of 2.23% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the stock. J P Morgan Chase & Co upped their price target on shares of Tesla from $185.00 to $190.00 and gave the company an “underweight” rating in a report on Monday, May 8th. Goldman Sachs Group, Inc. (The) set a $190.00 price target on shares of Tesla and gave the company a “sell” rating in a report on Monday, May 15th. Guggenheim upped their price target on shares of Tesla from $320.00 to $380.00 and gave the company a “buy” rating in a report on Monday, May 15th. Morgan Stanley lowered shares of Tesla from an “overweight” rating to an “equal weight” rating and set a $305.00 price objective for the company. in a research note on Monday, May 15th. Finally, Cowen and Company reiterated an “underperform” rating and issued a $155.00 target price on shares of Tesla in a report on Monday, May 1st. Eight investment analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company. Tesla has a consensus rating of “Hold” and a consensus price target of $310.84.
Tesla (NASDAQ TSLA) traded down 1.674% during mid-day trading on Thursday, hitting $356.835. 1,603,569 shares of the stock traded hands. Tesla has a 12 month low of $178.19 and a 12 month high of $386.99. The stock’s market cap is $59.55 billion. The stock has a 50-day moving average price of $340.15 and a 200-day moving average price of $309.81.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.67. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. Tesla’s revenue was up 119.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.06) earnings per share. On average, equities analysts forecast that Tesla will post ($6.34) earnings per share for the current year.
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In other news, Director Kimbal Musk sold 4,690 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total value of $1,724,419.20. Following the transaction, the director now owns 166,164 shares in the company, valued at $61,095,179.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.10% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lincoln National Corp bought a new stake in Tesla during the first quarter valued at $226,000. Great West Life Assurance Co. Can boosted its position in Tesla by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock valued at $25,129,000 after buying an additional 1,802 shares during the last quarter. Perigon Wealth Management LLC boosted its position in Tesla by 0.9% in the first quarter. Perigon Wealth Management LLC now owns 8,025 shares of the electric vehicle producer’s stock valued at $2,233,000 after buying an additional 74 shares during the last quarter. Vanguard Group Inc. boosted its position in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock valued at $1,651,654,000 after buying an additional 280,941 shares during the last quarter. Finally, Gemmer Asset Management LLC boosted its position in Tesla by 8.3% in the first quarter. Gemmer Asset Management LLC now owns 759 shares of the electric vehicle producer’s stock valued at $211,000 after buying an additional 58 shares during the last quarter. 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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