Tesla (TSLA) Receives New Coverage from Analysts at Citigroup

Analysts at Citigroup began coverage on shares of Tesla (NASDAQ:TSLA) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating and a $425.00 price target on the electric vehicle producer’s stock. Citigroup’s price objective would indicate a potential upside of 34.65% from the stock’s current price.

TSLA has been the topic of several other research reports. Berenberg Bank set a $470.00 price target on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, February 8th. BidaskClub cut shares of Tesla from a “hold” rating to a “sell” rating in a research note on Tuesday. Dougherty & Co boosted their price target on shares of Tesla from $340.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Vetr upgraded shares of Tesla from a “sell” rating to a “hold” rating and set a $336.07 price target on the stock in a research note on Monday, February 5th. Finally, ValuEngine upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Thirteen analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $324.52.

Tesla (NASDAQ TSLA) opened at $315.62 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09. Tesla has a one year low of $242.01 and a one year high of $389.61. The firm has a market cap of $53,350.00, a price-to-earnings ratio of -26.77 and a beta of 0.97.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.12) by $0.08. Tesla had a negative net margin of 16.68% and a negative return on equity of 32.11%. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the company earned ($0.69) EPS. Tesla’s revenue for the quarter was up 43.9% on a year-over-year basis. research analysts expect that Tesla will post -6.87 earnings per share for the current year.

In other news, VP Eric Branderiz sold 801 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $354.58, for a total value of $284,018.58. Following the sale, the vice president now directly owns 1,287 shares in the company, valued at approximately $456,344.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 4,065 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $312.08, for a total transaction of $1,268,605.20. Following the transaction, the director now owns 154,589 shares in the company, valued at $48,244,135.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,231 shares of company stock worth $3,292,431. Insiders own 23.10% of the company’s stock.

A number of large investors have recently modified their holdings of TSLA. Ark Investment Management LLC grew its holdings in Tesla by 67.0% during the 2nd quarter. Ark Investment Management LLC now owns 37,836 shares of the electric vehicle producer’s stock valued at $13,682,000 after purchasing an additional 15,186 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Tesla by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 100,312 shares of the electric vehicle producer’s stock valued at $36,274,000 after purchasing an additional 1,522 shares during the last quarter. QS Investors LLC grew its holdings in Tesla by 46.4% during the 2nd quarter. QS Investors LLC now owns 625 shares of the electric vehicle producer’s stock valued at $226,000 after purchasing an additional 198 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Tesla by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,203 shares of the electric vehicle producer’s stock valued at $2,244,000 after purchasing an additional 388 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in Tesla during the 2nd quarter valued at about $796,000. Institutional investors own 57.49% of the company’s stock.

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About Tesla

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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