Jefferies Financial Group Upgrades Tesla (TSLA) to “Buy”

Tesla (NASDAQ:TSLA) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, The Fly reports. The firm presently has a $450.00 target price on the electric vehicle producer’s stock. Jefferies Financial Group’s price objective points to a potential upside of 23.95% from the stock’s current price.

TSLA has been the subject of a number of other research reports. Citigroup cut shares of Tesla from a “neutral” rating to a “sell” rating and cut their target price for the stock from $356.00 to $225.00 in a research note on Friday, September 28th. Goldman Sachs Group set a $210.00 target price on shares of Tesla and gave the stock a “sell” rating in a research note on Wednesday, October 3rd. Barclays set a $210.00 target price on shares of Tesla and gave the stock a “sell” rating in a research note on Monday, August 27th. Sanford C. Bernstein set a $325.00 target price on shares of Tesla and gave the stock a “neutral” rating in a research note on Friday, September 28th. Finally, ValuEngine raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Twelve analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Tesla currently has an average rating of “Hold” and an average target price of $320.85.

Shares of Tesla stock opened at $363.06 on Friday. The stock has a market capitalization of $61.77 billion, a price-to-earnings ratio of -31.63 and a beta of 0.59. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.81 and a quick ratio of 0.47. Tesla has a fifty-two week low of $244.59 and a fifty-two week high of $387.46.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of ($1.77) by $4.67. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Tesla had a negative net margin of 10.22% and a negative return on equity of 34.27%. On average, sell-side analysts predict that Tesla will post -5.09 earnings per share for the current year.

In other news, Director Kimbal Musk sold 1,875 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $306.00, for a total value of $573,750.00. Following the transaction, the director now directly owns 150,208 shares in the company, valued at approximately $45,963,648. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Elon Musk acquired 29,844 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was bought at an average price of $334.98 per share, for a total transaction of $9,997,143.12. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 26,375 shares of company stock worth $9,029,040. Company insiders own 22.80% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new stake in Tesla during the 3rd quarter worth approximately $4,737,000. Reynders McVeigh Capital Management LLC lifted its holdings in Tesla by 10.3% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 2,285 shares of the electric vehicle producer’s stock worth $605,000 after buying an additional 214 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in Tesla during the 3rd quarter worth approximately $131,000. Vanguard Group Inc. lifted its holdings in Tesla by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,036,426 shares of the electric vehicle producer’s stock worth $1,863,034,000 after buying an additional 59,018 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its holdings in Tesla by 255.6% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,561 shares of the electric vehicle producer’s stock worth $413,000 after buying an additional 1,122 shares in the last quarter. Hedge funds and other institutional investors own 59.50% of the company’s stock.

About Tesla

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.

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The Fly

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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