JPMorgan Chase & Co. Reiterates “$180.00” Price Target for Tesla (TSLA)

Tesla (NASDAQ:TSLA) has been assigned a $180.00 target price by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday. The brokerage presently has a “sell” rating on the electric vehicle producer’s stock. JPMorgan Chase & Co.’s price objective would indicate a potential downside of 43.90% from the company’s current price.

Several other research analysts have also recently issued reports on TSLA. Vetr cut Tesla from a “strong-buy” rating to a “buy” rating and set a $327.47 price objective for the company. in a research note on Thursday, April 5th. Nomura reiterated a “buy” rating and set a $420.00 price target on shares of Tesla in a research report on Thursday, March 29th. Piper Jaffray Companies set a $369.00 price target on Tesla and gave the company a “buy” rating in a research report on Thursday, May 3rd. Zacks Investment Research upgraded Tesla from a “hold” rating to a “buy” rating and set a $329.00 price target for the company in a research report on Tuesday, May 8th. Finally, Berenberg Bank set a $500.00 price objective on Tesla and gave the company a “buy” rating in a research report on Monday, May 21st. Twelve analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $308.61.

TSLA stock traded up $0.61 during trading on Friday, reaching $320.84. 24,960 shares of the company traded hands, compared to its average volume of 8,360,523. Tesla has a 12 month low of $244.59 and a 12 month high of $389.61. The company has a market cap of $54.99 billion, a P/E ratio of -27.95 and a beta of 0.91. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.74 and a quick ratio of 0.44.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, May 2nd. The electric vehicle producer reported ($3.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.95). Tesla had a negative net margin of 18.77% and a negative return on equity of 40.72%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the previous year, the business earned ($1.33) EPS. Tesla’s revenue for the quarter was up 26.4% compared to the same quarter last year. analysts anticipate that Tesla will post -10.94 EPS for the current year.

In other Tesla news, CEO Elon Musk bought 55,000 shares of the business’s stock in a transaction dated Tuesday, June 12th. The stock was acquired at an average cost of $343.19 per share, with a total value of $18,875,450.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP John Douglas Field sold 3,000 shares of the stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $359.27, for a total value of $1,077,810.00. Following the transaction, the vice president now directly owns 20,964 shares of the company’s stock, valued at $7,531,736.28. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its stake in Tesla by 20.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 895 shares of the electric vehicle producer’s stock valued at $279,000 after purchasing an additional 155 shares in the last quarter. Global Financial Private Capital LLC increased its position in Tesla by 4.5% during the first quarter. Global Financial Private Capital LLC now owns 3,952 shares of the electric vehicle producer’s stock worth $1,052,000 after buying an additional 171 shares in the last quarter. Financial Advocates Investment Management increased its position in Tesla by 4.8% during the first quarter. Financial Advocates Investment Management now owns 3,864 shares of the electric vehicle producer’s stock worth $1,028,000 after buying an additional 176 shares in the last quarter. FCG Advisors LLC increased its position in Tesla by 26.6% during the first quarter. FCG Advisors LLC now owns 881 shares of the electric vehicle producer’s stock worth $234,000 after buying an additional 185 shares in the last quarter. Finally, Miracle Mile Advisors LLC increased its position in Tesla by 23.7% during the first quarter. Miracle Mile Advisors LLC now owns 1,001 shares of the electric vehicle producer’s stock worth $266,000 after buying an additional 192 shares in the last quarter. 60.68% of the stock is owned by hedge funds and other institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, 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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