Goldman Sachs sets new target price for Tesla

Tesla

Tesla (NASDAQ:TSLA) has been assigned a $295.00 price objective by Goldman Sachs Group in a research report issued to clients and investors on Thursday, Borsen Zeitung reports.

The firm presently has a “neutral” rating on the electric vehicle producer’s stock. Goldman Sachs Group’s target price points to a potential downside of 33.28% from the company’s current price.

A number of other research firms have also commented on TSLA. Argus raised Tesla from a “hold” rating to a “buy” rating in a research note on Friday, July 24th. Wedbush reiterated a “hold” rating on shares of Tesla in a research report on Monday, August 31st.

Royal Bank of Canada boosted their target price on shares of Tesla from $170.00 to $290.00 and gave the company an “underperform” rating in a report on Tuesday, September 1st. Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating in a research report on Friday, July 24th.

Finally, Citigroup upped their target price on Tesla from $90.00 to $110.00 and gave the company a “sell” rating in a research report on Tuesday, August 4th. Ten equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $182.73.

Shares of NASDAQ TSLA opened at $442.15 on Thursday. The company has a 50 day simple moving average of $372.03 and a 200 day simple moving average of $222.99. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.25 and a quick ratio of 0.92. Tesla has a 1 year low of $43.67 and a 1 year high of $502.49. The firm has a market cap of $409.81 billion, a PE ratio of 1,151.43, a price-to-earnings-growth ratio of 15.47 and a beta of 1.63.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.91. The company had revenue of $6.04 billion for the quarter, compared to analyst estimates of $4.96 billion. Tesla had a net margin of 1.43% and a return on equity of 4.19%. During the same quarter in the previous year, the business earned ($0.22) earnings per share. As a group, research analysts anticipate that Tesla will post 0.69 earnings per share for the current fiscal year.
In other Tesla news, SVP Andrew D. Baglino sold 300 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $1,395.78, for a total transaction of $418,734.00. Following the sale, the senior vice president now directly owns 4,422 shares of the company’s stock, valued at $6,172,139.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 1,500 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $387.44, for a total transaction of $581,160.00. Following the transaction, the senior vice president now owns 21,837 shares of the company’s stock, valued at approximately $8,460,527.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,154 shares of company stock worth $68,808,155. 23.00% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Capstone Financial Group Inc. purchased a new position in shares of Tesla during the second quarter worth about $25,000. Capital Analysts LLC bought a new position in shares of Tesla in the 1st quarter worth $28,000. NewSquare Capital LLC purchased a new stake in shares of Tesla during the 1st quarter valued at $28,000. Prestige Wealth Management Group LLC bought a new stake in shares of Tesla during the 1st quarter worth $31,000. Finally, Lake Point Wealth Management grew its position in Tesla by 154.2% in the first quarter. Lake Point Wealth Management now owns 61 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 37 shares in the last quarter. 48.22% of the stock is owned by institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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