Sanford C. Bernstein Reiterates $265.00 Price Target for Tesla Inc. (TSLA)
Tesla Inc. (NASDAQ:TSLA) has been assigned a $265.00 price target by equities research analysts at Sanford C. Bernstein in a research note issued on Wednesday. The firm currently has a “neutral” rating on the electric vehicle producer’s stock. Sanford C. Bernstein’s target price would indicate a potential downside of 24.52% from the stock’s current price.
TSLA has been the topic of a number of other reports. Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and boosted their target price for the stock from $193.00 to $464.00 in a research report on Tuesday, June 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $368.00 target price on shares of Tesla in a research report on Tuesday, June 20th. Argus raised Tesla from a “hold” rating to a “buy” rating and boosted their target price for the stock from $355.17 to $444.00 in a research report on Tuesday, August 8th. Vetr lowered Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 target price on the stock. in a research report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $180.00 target price (down from $190.00) on shares of Tesla in a research report on Monday, July 31st. Nine research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $314.30.
Tesla (NASDAQ TSLA) traded down 4.20% during mid-day trading on Wednesday, reaching $351.09. The company’s stock had a trading volume of 8,159,418 shares. The company’s market capitalization is $58.59 billion. The firm has a 50 day moving average price of $354.97 and a 200-day moving average price of $325.99. Tesla has a 1-year low of $178.19 and a 1-year high of $389.61.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. Tesla’s revenue for the quarter 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 predict that Tesla will post ($6.29) EPS for the current fiscal year.
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In other Tesla news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the completion of the transaction, the director now owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Eric Branderiz sold 99 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,946 shares of company stock valued at $18,481,047. Insiders own 23.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in Tesla by 10.9% in the 1st quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock valued at $6,804,556,000 after acquiring an additional 2,400,034 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Tesla by 2.5% in the 1st quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock valued at $3,792,025,000 after acquiring an additional 336,130 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Tesla by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after purchasing an additional 292,602 shares during the period. Capital World Investors grew its stake in shares of Tesla by 0.6% in the 2nd quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock valued at $1,090,815,000 after purchasing an additional 17,452 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Tesla by 4.3% in the 2nd quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock valued at $1,085,801,000 after purchasing an additional 124,511 shares during the period. 56.63% of the stock is owned by hedge funds and other institutional investors.
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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