ValuEngine Analyst upgrades Tesla to ‘buy’

ValuEngine upgraded shares of Tesla (NASDAQ:TSLA) from a hold rating to a buy rating in a report published on Monday morning, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the company. Bank of America upgraded Tesla from an underperform rating to a neutral rating in a research note on Friday, August 14th.

Sanford C. Bernstein set a $180.00 price objective on shares of Tesla and gave the stock a sell rating in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft raised shares of Tesla from a hold rating to a buy rating and raised their target price for the company from $400.00 to $500.00 in a research report on Wednesday, September 23rd.

New Street Research raised shares of Tesla from a neutral rating to a buy rating and set a $578.00 price target on the stock in a research report on Thursday, October 8th. Finally, Needham & Company LLC initiated coverage on shares of Tesla in a research note on Wednesday, September 23rd. They set a sell rating for the company. Nine investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $218.18.

TSLA opened at $442.30 on Monday. The stock has a market capitalization of $409.95 billion, a P/E ratio of 1,151.82, a P/E/G ratio of 15.47 and a beta of 1.63. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98. Tesla has a 12 month low of $49.43 and a 12 month high of $502.49. The firm’s fifty day simple moving average is $420.06 and its 200 day simple moving average is $259.37.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.91. The firm had revenue of $6.04 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Tesla had a return on equity of 4.19% and a net margin of 1.43%. During the same quarter in the prior year, the company earned ($0.22) EPS. On average, equities research analysts predict that Tesla will post 0.69 EPS for the current fiscal year.

In other Tesla news, CAO Vaibhav Taneja sold 4,404 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $425.17, for a total transaction of $1,872,448.68. Following the transaction, the chief accounting officer now owns 19,203 shares in the company, valued at approximately $8,164,539.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 26,167 shares of the firm’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 transaction of $38,939,897.71. Following the transaction, the director now directly owns 14,333 shares in the company, valued at $21,329,367.29. The disclosure for this sale can be found here. Insiders have sold 97,008 shares of company stock valued at $79,505,133 in the last three months. Insiders own 23.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Tesla by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 8,852,837 shares of the electric vehicle producer’s stock worth $9,559,382,000 after purchasing an additional 190,056 shares in the last quarter. J.Safra Asset Management Corp grew its stake in Tesla by 52,300.0% during the first quarter. J.Safra Asset Management Corp now owns 1,310,000 shares of the electric vehicle producer’s stock worth $250,000 after buying an additional 1,307,500 shares in the last quarter. Swiss National Bank increased its holdings in Tesla by 11.2% in the 2nd quarter. Swiss National Bank now owns 583,353 shares of the electric vehicle producer’s stock valued at $629,910,000 after buying an additional 58,700 shares during the period. Darsana Capital Partners LP acquired a new position in shares of Tesla in the 1st quarter valued at approximately $262,000,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Tesla by 3.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 398,451 shares of the electric vehicle producer’s stock worth $430,252,000 after acquiring an additional 13,139 shares during the period. 48.22% of the stock is owned by hedge funds and other institutional investors.

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.

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