Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, Mizuho Analyst Says

Tesla (NASDAQ:TSLA) had its price objective hoisted by analysts at Mizuho from $475.00 to $530.00 in a research note issued on Tuesday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the electric vehicle producer’s stock. Mizuho’s target price suggests a potential upside of 13.43% from the company’s current price.

TSLA has been the subject of a number of other research reports. TD Cowen boosted their price objective on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Barclays reissued a “neutral” rating and issued a $350.00 price target on shares of Tesla in a report on Monday, December 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research note on Thursday, October 23rd. Evercore ISI boosted their target price on Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $400.86.

Tesla Trading Down 4.6%

NASDAQ TSLA opened at $467.26 on Tuesday. Tesla has a 12 month low of $214.25 and a 12 month high of $495.28. The stock has a 50-day simple moving average of $437.67 and a 200 day simple moving average of $378.86. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.55 trillion, a PE ratio of 311.51, a P/E/G ratio of 12.24 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Research analysts forecast that Tesla will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 19.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Turning Point Benefit Group Inc. acquired a new position in shares of Tesla during the 3rd quarter worth approximately $30,000. Manning & Napier Advisors LLC acquired a new position in Tesla during the third quarter worth $29,000. Texas Capital Bancshares Inc TX bought a new stake in Tesla during the third quarter worth $31,000. Westend Capital Management LLC acquired a new stake in Tesla in the third quarter valued at $32,000. Finally, Chapman Financial Group LLC bought a new position in shares of Tesla in the 2nd quarter valued at about $26,000. 66.20% of the stock is owned by institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.