Analysts Offer Consensus “Reduce” Recommendation for Tesla, Inc. (NASDAQ:TSLA)

Analysts Offer Consensus “Reduce” Recommendation for Tesla, Inc. (NASDAQ:TSLA)

Shares of Tesla, Inc. (NASDAQ:TSLAGet Free Report) have been assigned an average recommendation of “Reduce” from the thirty-two brokerages that are presently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $198.81.

A number of equities analysts have recently commented on TSLA shares. TD Cowen dropped their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. UBS Group cut their price objective on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Redburn Atlantic assumed coverage on shares of Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price on the stock. Wedbush dropped their price target on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Friday.

Get Our Latest Report on TSLA

Tesla Price Performance

Tesla stock opened at $171.05 on Friday. Tesla has a 52-week low of $152.37 and a 52-week high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average is $181.83 and its 200 day moving average is $214.69. The company has a market cap of $544.76 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 3.49 and a beta of 2.39.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Sell-side analysts forecast that Tesla will post 2.2 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. In the last three months, insiders sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently added to or reduced their stakes in TSLA. Contravisory Investment Management Inc. acquired a new position in Tesla during the 3rd quarter valued at approximately $25,000. Wyrmwood Management LLC acquired a new position in shares of Tesla in the 4th quarter valued at $25,000. Lam Group Inc. purchased a new position in Tesla in the 4th quarter worth $25,000. Halpern Financial Inc. lifted its position in Tesla by 1,111.1% during the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 100 shares during the period. Finally, Alpha Paradigm Partners LLC purchased a new stake in Tesla during the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

(Get Free Report

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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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