Tesla (NASDAQ:TSLA) was upgraded by equities researchers at New Street Research from a “neutral” rating to a “buy” rating in a research report issued on Thursday, MarketBeat reports.
The brokerage currently has a $578.00 target price on the electric vehicle producer’s stock. New Street Research’s price target suggests a potential upside of 33.18% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Deutsche Bank raised Tesla from a “hold” rating to a “buy” rating and lifted their price target for the stock from $400.00 to $500.00 in a research note on Wednesday, September 23rd. Jefferies Financial Group reissued a “buy” rating on shares of Tesla in a research note on Monday, August 31st. Oppenheimer reissued a “buy” rating on shares of Tesla in a research note on Friday, October 2nd. Robert W. Baird boosted their target price on Tesla from $332.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, September 23rd.
Finally, Royal Bank of Canada set a $290.00 target price on Tesla and gave the company a “sell” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $218.18.
Shares of TSLA stock opened at $434.00 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average price of $418.43 and a two-hundred day moving average price of $254.14. Tesla has a 12-month low of $48.32 and a 12-month high of $502.49. The firm has a market cap of $402.26 billion, a P/E ratio of 1,130.21, 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.91. Tesla had a return on equity of 4.19% and a net margin of 1.43%. The firm had revenue of $6.04 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the previous year, the company posted ($0.22) earnings per share. As a group, research analysts expect that Tesla will post 0.69 EPS for the current fiscal year.
In related news, Director Robyn M. Denholm sold 26,167 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $1,488.13, for a total value of $38,939,897.71. Following the sale, the director now owns 14,333 shares in the company, valued at approximately $21,329,367.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Kirkhorn sold 250 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,677.86, for a total value of $419,465.00. Following the completion of the sale, the chief financial officer now owns 11,331 shares in the company, valued at approximately $19,011,831.66. The disclosure for this sale can be found here. Insiders have sold a total of 97,008 shares of company stock worth $79,505,133 in the last quarter. Company insiders own 23.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Lake Street Financial LLC grew its stake in shares of Tesla by 359.1% in the 3rd quarter. Lake Street Financial LLC now owns 1,648 shares of the electric vehicle producer’s stock worth $707,000 after buying an additional 1,289 shares during the last quarter. Braun Bostich & Associates Inc. grew its stake in shares of Tesla by 754.8% in the 3rd quarter. Braun Bostich & Associates Inc. now owns 718 shares of the electric vehicle producer’s stock worth $308,000 after buying an additional 634 shares during the last quarter. Capstone Financial Group Inc. lifted its position in Tesla by 733.3% in the 3rd quarter. Capstone Financial Group Inc. now owns 150 shares of the electric vehicle producer’s stock valued at $62,000 after acquiring an additional 132 shares in the last quarter. Cullinan Associates Inc. bought a new position in Tesla in the 3rd quarter valued at approximately $1,802,000. Finally, RVW Wealth LLC lifted its position in Tesla by 490.2% in the 3rd quarter. RVW Wealth LLC now owns 2,585 shares of the electric vehicle producer’s stock valued at $1,109,000 after acquiring an additional 2,147 shares in the last quarter. Institutional investors own 48.22% of the company’s stock.
About Tesla
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.
