Tesla (TSLA) Earns Buy Rating from Nomura

Tesla (NASDAQ:TSLA)‘s stock had its “buy” rating reiterated by investment analysts at Nomura in a note issued to investors on Thursday. They presently have a $500.00 price target on the electric vehicle producer’s stock. Nomura’s price objective suggests a potential upside of 57.60% from the company’s previous close.

A number of other analysts have also recently weighed in on TSLA. Barclays reissued a “sell” rating and issued a $210.00 price objective on shares of Tesla in a research report on Thursday. Bank of America set a $155.00 price objective on Tesla and gave the stock a “sell” rating in a research report on Wednesday. Robert W. Baird reissued a “buy” rating and issued a $411.00 price objective on shares of Tesla in a research report on Friday, September 29th. KeyCorp reissued a “hold” rating and issued a $240.00 price objective on shares of Tesla in a research report on Wednesday, December 27th. Finally, Vetr cut Tesla from a “sell” rating to a “strong sell” rating and set a $298.58 price objective for the company. in a research report on Tuesday, September 26th. Twelve research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $329.47.

Shares of Tesla (NASDAQ TSLA) traded down $3.28 during trading hours on Thursday, hitting $317.25. The stock had a trading volume of 4,512,200 shares, compared to its average volume of 4,432,200. Tesla has a twelve month low of $214.31 and a twelve month high of $389.61. The stock has a market cap of $52,680.00, a P/E ratio of -37.06 and a beta of 0.94. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.71.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.09) by $0.17. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. sell-side analysts forecast that Tesla will post -11.38 EPS for the current fiscal year.

In related news, VP Eric Branderiz sold 1,736 shares of Tesla stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total value of $589,354.64. Following the completion of the transaction, the vice president now owns 1,736 shares in the company, valued at approximately $589,354.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $330.29, for a total value of $723,335.10. Following the completion of the transaction, the director now owns 154,419 shares of the company’s stock, valued at approximately $51,003,051.51. The disclosure for this sale can be found here. Insiders have sold a total of 10,627 shares of company stock valued at $3,423,398 in the last quarter. Company insiders own 23.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in TSLA. BlackRock Investment Management LLC increased its stake in Tesla by 3.2% during the 3rd quarter. BlackRock Investment Management LLC now owns 49,394 shares of the electric vehicle producer’s stock worth $10,078,000 after buying an additional 1,522 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in Tesla by 24.2% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 808,661 shares of the electric vehicle producer’s stock worth $171,663,000 after buying an additional 157,425 shares in the last quarter. J. Goldman & Company purchased a new stake in Tesla during the 3rd quarter worth approximately $3,726,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tesla by 21.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,881 shares of the electric vehicle producer’s stock worth $14,054,000 after buying an additional 12,131 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in Tesla by 15.0% during the 4th quarter. Profund Advisors LLC now owns 8,779 shares of the electric vehicle producer’s stock worth $2,107,000 after buying an additional 1,142 shares in the last quarter. Hedge funds and other institutional investors own 57.12% of the company’s stock.

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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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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