Tesla Inc. (TSLA) Receives New Coverage from Analysts at Nomura
Research analysts at Nomura initiated coverage on shares of Tesla Inc. (NASDAQ:TSLA) in a research report issued on Wednesday. The brokerage set a “buy” rating and a $500.00 price target on the electric vehicle producer’s stock. Nomura’s target price would suggest a potential upside of 43.62% from the stock’s current price.
Other research analysts also recently issued reports about the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $411.00 price objective on shares of Tesla in a report on Monday, September 18th. Jefferies Group LLC initiated coverage on shares of Tesla in a report on Tuesday, September 19th. They set an “underperform” rating and a $280.00 target price on the stock. They noted that the move was a valuation call. Vetr raised shares of Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 target price on the stock in a report on Tuesday, June 13th. Sanford C. Bernstein set a $265.00 target price on Tesla and gave the stock a “neutral” rating in a research report on Wednesday, September 20th. Finally, BidaskClub downgraded Tesla from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Nine research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the stock. Tesla presently has an average rating of “Hold” and an average price target of $319.71.
Tesla (NASDAQ:TSLA) opened at 348.14 on Wednesday. The company’s market cap is $58.10 billion. Tesla has a 1-year low of $178.19 and a 1-year high of $389.61. The firm’s 50-day moving average price is $354.47 and its 200-day moving average price is $333.05.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company earned ($1.06) earnings per share. The company’s revenue was up 119.6% on a year-over-year basis. Equities research analysts forecast that Tesla will post ($6.32) EPS for the current fiscal year.
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In other news, Director Kimbal Musk sold 2,190 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eric Branderiz sold 99 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was 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. Insiders sold 49,256 shares of company stock valued at $16,756,628 over the last 90 days. 23.10% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baker Avenue Asset Management boosted its position in shares of Tesla by 0.9% during the third quarter. Baker Avenue Asset Management now owns 2,335 shares of the electric vehicle producer’s stock valued at $580,000 after purchasing an additional 20 shares in the last quarter. Perigon Wealth Management boosted its holdings in shares of Tesla by 0.4% during the 3rd quarter. Perigon Wealth Management now owns 4,916 shares of the electric vehicle producer’s stock valued at $1,221,000 after buying an additional 22 shares in the last quarter. KBC Group boosted its holdings in shares of Tesla by 213.5% during the 3rd quarter. KBC Group now owns 21,454 shares of the electric vehicle producer’s stock valued at $5,329,000 after buying an additional 14,610 shares in the last quarter. J. Goldman & Company bought a new stake in shares of Tesla during the 3rd quarter valued at $3,726,000. Finally, KSA Capital Management bought a new stake in shares of Tesla during the 3rd quarter valued at $7,452,000. Institutional investors own 56.63% of the company’s stock.
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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