Tesla (NASDAQ:TSLA – Get Rating) had its price target increased by equities researchers at Daiwa Capital Markets to $930.00 in a note issued to investors on Monday, Stock Target Advisor reports. Daiwa Capital Markets’ price target would suggest a potential upside of 19.76% from the stock’s previous close.
Several other equities research analysts have also weighed in on the company. Piper Sandler decreased their price objective on Tesla from $1,260.00 to $1,035.00 and set an “overweight” rating for the company in a report on Wednesday, May 18th. Berenberg Bank reduced their target price on Tesla from $900.00 to $850.00 in a report on Thursday, July 21st. Canaccord Genuity Group lifted their target price on Tesla from $801.00 to $815.00 in a report on Thursday, July 21st. UBS Group raised Tesla from a “neutral” rating to a “buy” rating and set a $1,100.00 target price for the company in a report on Thursday, June 9th. Finally, Oppenheimer lifted their target price on Tesla from $1,103.00 to $1,291.00 and gave the company an “outperform” rating in a report on Thursday, April 21st. Eight investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $855.21.
Tesla Price Performance
Shares of NASDAQ:TSLA opened at $776.58 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $712.62 and its two-hundred day simple moving average is $850.27. Tesla has a 1-year low of $620.57 and a 1-year high of $1,243.49. The stock has a market cap of $804.84 billion, a PE ratio of 93.56, a price-to-earnings-growth ratio of 2.55 and a beta of 2.11.
Tesla (NASDAQ:TSLA – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.46. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The company had revenue of $16.93 billion during the quarter, compared to analyst estimates of $16.92 billion. During the same quarter last year, the firm posted $1.02 EPS. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. As a group, analysts forecast that Tesla will post 10.28 EPS for the current fiscal year.
Insider Buying and Selling at Tesla
In other Tesla news, SVP Andrew D. Baglino sold 433 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $718.31, for a total value of $311,028.23. Following the completion of the sale, the senior vice president now owns 20,567 shares in the company, valued at $14,773,481.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Andrew D. Baglino sold 433 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $718.31, for a total transaction of $311,028.23. Following the transaction, the senior vice president now directly owns 20,567 shares of the company’s stock, valued at $14,773,481.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Vaibhav Taneja sold 1,518 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $718.31, for a total value of $1,090,394.58. Following the transaction, the chief accounting officer now directly owns 26,449 shares in the company, valued at $18,998,581.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,268 shares of company stock worth $53,221,004. 25.10% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Tesla
Several hedge funds have recently made changes to their positions in the business. IFG Advisory LLC grew its stake in Tesla by 1.4% in the first quarter. IFG Advisory LLC now owns 3,599 shares of the electric vehicle producer’s stock worth $3,878,000 after purchasing an additional 48 shares during the period. Bristlecone Advisors LLC grew its stake in Tesla by 18.2% in the first quarter. Bristlecone Advisors LLC now owns 999 shares of the electric vehicle producer’s stock worth $1,077,000 after purchasing an additional 154 shares during the period. Financial Futures Ltd Liability Co. purchased a new stake in Tesla in the fourth quarter worth $291,000. PGGM Investments purchased a new stake in Tesla in the fourth quarter worth $12,596,000. Finally, Curi Wealth Management LLC purchased a new stake in Tesla in the fourth quarter worth $98,000. 40.64% of the stock is owned by hedge funds and other 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.
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