Tesla (TSLA) Coverage Initiated by Analysts at Macquarie

Macquarie started coverage on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Monday, The Fly reports. The firm issued an outperform rating and a $430.00 price objective on the electric vehicle producer’s stock.

A number of other brokerages also recently weighed in on TSLA. Berenberg Bank restated a buy rating and set a $500.00 target price on shares of Tesla in a report on Wednesday, August 8th. Jefferies Financial Group boosted their target price on shares of Tesla from $250.00 to $360.00 and gave the stock a neutral rating in a report on Wednesday, August 8th. Needham & Company LLC restated a sell rating on shares of Tesla in a report on Wednesday, August 8th. Sanford C. Bernstein restated a neutral rating and set a $265.00 target price on shares of Tesla in a report on Wednesday, August 8th. Finally, JPMorgan Chase & Co. restated a sell rating and set a $308.00 target price on shares of Tesla in a report on Wednesday, August 8th. Fifteen research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $306.59.

Shares of TSLA opened at $250.56 on Monday. The firm has a market cap of $45.17 billion, a P/E ratio of -21.83 and a beta of 0.84. Tesla has a 1-year low of $244.59 and a 1-year high of $387.46. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.37 and a current ratio of 0.73.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.61) by $0.55. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. The firm’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period in the previous year, the company earned ($1.33) earnings per share. On average, analysts predict that Tesla will post -10.77 earnings per share for the current year.

In related news, insider Jerome M. Guillen sold 1,000 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $306.00, for a total transaction of $306,000.00. Following the completion of the sale, the insider now owns 8,598 shares of the company’s stock, valued at $2,630,988. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 1,875 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $573,750.00. Following the sale, the director now directly owns 150,208 shares of the company’s stock, valued at approximately $45,963,648. The disclosure for this sale can be found here. Corporate insiders own 22.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwest Wealth Management LLC bought a new position in shares of Tesla in the second quarter worth about $103,000. Stelac Advisory Services LLC bought a new position in shares of Tesla in the second quarter worth about $114,000. BerganKDV Wealth Management LLC bought a new position in shares of Tesla in the second quarter worth about $124,000. Mogy Joel R Investment Counsel Inc. bought a new position in shares of Tesla in the second quarter worth about $201,000. Finally, Goodwin Daniel L bought a new position in shares of Tesla in the second quarter worth about $206,000. 62.03% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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