Tesla (NASDAQ:TSLA) PT Raised to $455.00

Tesla (NASDAQ:TSLA) had its target price raised by equities researchers at Deutsche Bank from $290.00 to $455.00 in a note issued to investors on Tuesday, Briefing.com Automated Import reports. The brokerage currently has a “hold” rating on the electric vehicle producer’s stock. Deutsche Bank’s price objective indicates a potential downside of 13.31% from the company’s previous close.

Several other analysts have also weighed in on the company. JMP Securities lowered Tesla from an “outperform” rating to a “market perform” rating and set a $232.00 target price on the stock. in a report on Thursday, October 3rd. Piper Jaffray Companies upped their target price on Tesla from $372.00 to $423.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Wedbush upped their target price on Tesla from $270.00 to $370.00 and gave the company a “neutral” rating in a report on Thursday, December 26th. Canaccord Genuity upped their target price on Tesla from $375.00 to $515.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Tesla in a report on Thursday, October 3rd. Eighteen analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Tesla presently has an average rating of “Hold” and an average target price of $335.34.

Tesla stock opened at $524.86 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a market capitalization of $94.60 billion, a price-to-earnings ratio of -91.76, a price-to-earnings-growth ratio of 4.47 and a beta of 0.64. Tesla has a fifty-two week low of $176.99 and a fifty-two week high of $525.63. The stock’s fifty day moving average is $395.26 and its two-hundred day moving average is $291.06.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $1.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $2.28. The company had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.48 billion. Tesla had a negative return on equity of 13.42% and a negative net margin of 3.39%. Tesla’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.90 earnings per share. As a group, sell-side analysts forecast that Tesla will post -4.8 EPS for the current fiscal year.

In related news, SVP Andrew D. Baglino sold 2,366 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $313.25, for a total transaction of $741,149.50. Following the transaction, the senior vice president now directly owns 3,288 shares in the company, valued at $1,029,966. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Kirkhorn sold 150 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $262.00, for a total value of $39,300.00. Following the transaction, the chief financial officer now owns 9,851 shares in the company, valued at $2,580,962. The disclosure for this sale can be found here. Insiders sold 98,681 shares of company stock worth $33,831,053 over the last 90 days. Company insiders own 24.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. lifted its position in Tesla by 11.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,711 shares of the electric vehicle producer’s stock worth $412,000 after buying an additional 174 shares during the period. DRW Securities LLC lifted its position in Tesla by 12.5% during the second quarter. DRW Securities LLC now owns 2,383 shares of the electric vehicle producer’s stock worth $532,000 after buying an additional 265 shares during the period. Oppenheimer & Co. Inc. lifted its position in Tesla by 35.2% during the third quarter. Oppenheimer & Co. Inc. now owns 9,793 shares of the electric vehicle producer’s stock worth $2,358,000 after buying an additional 2,551 shares during the period. California State Teachers Retirement System lifted its position in Tesla by 3.1% during the second quarter. California State Teachers Retirement System now owns 233,305 shares of the electric vehicle producer’s stock worth $52,134,000 after buying an additional 7,100 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in Tesla during the third quarter worth about $1,387,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

About Tesla

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