Tesla Inc. (TSLA) Stock Rating Reaffirmed by Evercore ISI
Tesla Inc. (NASDAQ:TSLA)‘s stock had its “in-line” rating reaffirmed by Evercore ISI in a research report issued on Friday, Marketbeat Ratings reports. They presently have a $330.00 target price on the electric vehicle producer’s stock. Evercore ISI’s price objective points to a potential upside of 2.85% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Vetr cut Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 price objective for the company. in a report on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $180.00 price objective (down previously from $190.00) on shares of Tesla in a report on Wednesday, July 5th. Sanford C. Bernstein set a $265.00 price objective on Tesla and gave the stock a “neutral” rating in a report on Wednesday, September 20th. Royal Bank Of Canada boosted their price objective on Tesla from $314.00 to $345.00 and gave the stock a “sector perform” rating in a report on Thursday, August 3rd. Finally, Guggenheim restated a “buy” rating and set a $430.00 price objective on shares of Tesla in a report on Thursday, August 10th. Ten investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $333.50.
Shares of Tesla (TSLA) traded down 1.62% during mid-day trading on Friday, reaching $320.87. The company had a trading volume of 6,979,704 shares. Tesla has a 12 month low of $178.19 and a 12 month high of $389.61. The firm’s 50-day moving average is $352.46 and its 200 day moving average is $340.90. The company’s market capitalization is $53.55 billion.
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. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business’s revenue was up 119.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.06) earnings per share. On average, equities research analysts predict that Tesla will post ($6.63) earnings per share for the current year.
In related news, Director Stephen T. Jurvetson sold 44,777 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the sale, the director now directly owns 36,111 shares in the company, valued at $12,290,739.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Eric Branderiz sold 99 shares of the stock in a transaction 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. Insiders sold 53,182 shares of company stock valued at $18,094,284 over the last 90 days. 23.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. Pittenger & Anderson Inc. boosted its position in Tesla by 20.0% during the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after acquiring an additional 50 shares during the last quarter. Winfield Associates Inc. boosted its position in Tesla by 85.2% during the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after acquiring an additional 150 shares during the last quarter. Acropolis Investment Management LLC bought a new stake in Tesla during the second quarter valued at $122,000. North Star Investment Management Corp. boosted its position in Tesla by 2.8% during the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after acquiring an additional 9 shares during the last quarter. Finally, Carroll Financial Associates Inc. boosted its position in Tesla by 8.7% during the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 56.64% 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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