Tesla (NASDAQ:TSLA – Free Report) had its price target hoisted by Canaccord Genuity Group from $222.00 to $254.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the electric vehicle producer’s stock.
Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group dropped their price target on shares of Tesla from $185.00 to $165.00 and set a hold rating on the stock in a research note on Wednesday, April 10th. Piper Sandler reaffirmed an overweight rating and set a $205.00 target price on shares of Tesla in a research note on Monday, April 22nd. Robert W. Baird reissued an outperform rating and issued a $280.00 price target on shares of Tesla in a research note on Wednesday, April 17th. The Goldman Sachs Group restated a neutral rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday. Finally, Roth Mkm reissued a neutral rating and set a $85.00 target price on shares of Tesla in a research note on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $189.47.
Get Our Latest Analysis on Tesla
Tesla Trading Up 6.5 %
NASDAQ:TSLA opened at $246.39 on Wednesday. The firm has a market capitalization of $785.79 billion, a P/E ratio of 62.85, a P/E/G ratio of 4.91 and a beta of 2.31. The business has a 50 day simple moving average of $180.89 and a 200 day simple moving average of $190.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla has a 12-month low of $138.80 and a 12-month high of $299.29.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Equities research analysts predict that Tesla will post 1.86 EPS for the current year.
Insiders Place Their Bets
In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.
Hedge Funds Weigh In On Tesla
Several institutional investors have recently bought and sold shares of TSLA. Wyrmwood Management LLC acquired a new stake in Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. acquired a new stake in shares of Tesla in the fourth quarter worth $25,000. Mendota Financial Group LLC boosted its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the 4th quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. raised its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.
Tesla Company Profile
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.
Further Reading
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