Oppenheimer Reaffirms Tesla (NASDAQ:TSLA) Stock Rating

Oppenheimer Reaffirms Tesla (NASDAQ:TSLA) Stock Rating


Oppenheimer reaffirmed their market perform rating on shares of Tesla (NASDAQ:TSLAFree Report) in a research report report published on Monday, Benzinga reports.

A number of other research analysts also recently issued reports on the company. Wedbush reaffirmed an outperform rating and set a $315.00 price target on shares of Tesla in a report on Wednesday, March 13th. Canaccord Genuity Group cut their target price on Tesla from $267.00 to $234.00 and set a buy rating for the company in a research report on Thursday, January 25th. Royal Bank of Canada reiterated an outperform rating and set a $297.00 target price on shares of Tesla in a research report on Thursday, February 29th. Robert W. Baird reissued an outperform rating and set a $300.00 price target on shares of Tesla in a research note on Thursday, January 25th. Finally, China Renaissance assumed coverage on Tesla in a research note on Monday, February 26th. They issued a hold rating for the company. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $209.15.

View Our Latest Analysis on TSLA

Tesla Price Performance

Shares of Tesla stock opened at $172.63 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla has a one year low of $152.37 and a one year high of $299.29. The stock has a market capitalization of $549.79 billion, a P/E ratio of 40.05, a price-to-earnings-growth ratio of 3.84 and a beta of 2.41. The business’s 50 day simple moving average is $190.26 and its two-hundred day simple moving average is $223.41.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the previous year, the company earned $1.07 earnings per share. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts forecast that Tesla will post 2.45 EPS for the current year.

Insider Activity at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, 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 value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,598 shares of company stock worth $36,952,434. Insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in shares of Tesla during the third quarter worth about $25,000. Wyrmwood Management LLC purchased a new stake in Tesla in the 4th quarter valued at approximately $25,000. Lam Group Inc. purchased a new stake in Tesla in the 4th quarter valued at approximately $25,000. Alpha Paradigm Partners LLC purchased a new stake in Tesla in the 3rd quarter valued at approximately $27,000. Finally, Halpern Financial Inc. boosted its holdings in Tesla by 1,111.1% in the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Company Profile

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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)



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