Tesla’s (TSLA) Buy Rating Reiterated at Guggenheim
Tesla Inc. (NASDAQ:TSLA)‘s stock had its “buy” rating restated by investment analysts at Guggenheim in a research report issued to clients and investors on Friday. They currently have a $430.00 target price on the electric vehicle producer’s stock. Guggenheim’s price objective suggests a potential upside of 21.01% from the company’s current price.
A number of other brokerages also recently commented on TSLA. Vetr downgraded Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 target price on the stock. in a research note on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $180.00 target price (down previously from $190.00) on shares of Tesla in a research note on Wednesday, July 5th. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the stock a “neutral” rating in a research report on Wednesday, September 20th. Royal Bank Of Canada boosted their price target on Tesla from $314.00 to $345.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, July 5th. Ten research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Tesla currently has an average rating of “Hold” and a consensus price target of $324.87.
Tesla (NASDAQ:TSLA) traded down 0.18% during trading on Friday, hitting $354.68. The stock had a trading volume of 661,445 shares. The firm’s 50 day moving average is $354.05 and its 200 day moving average is $333.37. Tesla has a 1-year low of $178.19 and a 1-year high of $389.61. The firm’s market cap is $59.19 billion.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating 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 firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted ($1.06) earnings per share. The business’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, analysts anticipate that Tesla will post ($6.28) earnings per share for the current year.
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In related news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $341.69, for a total transaction of $748,301.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction dated 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 have sold 51,446 shares of company stock valued at $17,504,929 in the last quarter. 23.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. grew its holdings in Tesla by 2.5% during the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after purchasing an additional 336,130 shares during the period. Vanguard Group Inc. grew its holdings in Tesla by 4.9% during the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after purchasing an additional 292,602 shares during the period. Capital World Investors grew its holdings in Tesla by 0.6% during the second quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock worth $1,090,815,000 after purchasing an additional 17,452 shares during the period. Jennison Associates LLC grew its holdings in Tesla by 4.3% during the second quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock worth $1,085,801,000 after purchasing an additional 124,511 shares during the period. Finally, Primecap Management Co. CA grew its holdings in Tesla by 4.1% during the first quarter. Primecap Management Co. CA now owns 1,215,640 shares of the electric vehicle producer’s stock worth $338,313,000 after purchasing an additional 47,550 shares during the period. Institutional investors and hedge funds 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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