Tesla (NASDAQ:TSLA) Price Target Increased to $486.00 by Analysts at Oppenheimer

Tesla (NASDAQ:TSLA) had its price target hoisted by equities research analysts at Oppenheimer from $451.00 to $486.00 in a report released on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the electric vehicle producer’s stock. Oppenheimer’s price objective points to a potential upside of 14.99% from the stock’s previous close.

Several other research analysts have also recently issued reports on TSLA. Canaccord Genuity dropped their target price on shares of Tesla from $442.00 to $377.00 and set a “hold” rating on the stock in a report on Wednesday, September 23rd. Cfra upgraded shares of Tesla from a “sell” rating to a “buy” rating in a report on Friday, September 4th. Sanford C. Bernstein set a $180.00 price target on shares of Tesla and gave the company a “sell” rating in a report on Thursday. Needham & Company LLC initiated coverage on shares of Tesla in a report on Wednesday, September 23rd. They issued a “sell” rating on the stock. Finally, Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the company from $450.00 to $488.00 in a report on Thursday. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $248.29.

NASDAQ TSLA opened at $422.64 on Thursday. The company’s 50-day moving average price is $420.80 and its 200-day moving average price is $274.73. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98. The stock has a market cap of $391.73 billion, a PE ratio of 1,100.63, a PEG ratio of 21.29 and a beta of 1.68. Tesla has a 12 month low of $50.17 and a 12 month high of $502.49.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.54. Tesla had a net margin of 1.43% and a return on equity of 4.19%. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, sell-side analysts forecast that Tesla will post 0.6 earnings per share for the current year.

In other news, SVP Andrew D. Baglino sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $442.00, for a total transaction of $663,000.00. Following the sale, the senior vice president now owns 21,337 shares of the company’s stock, valued at approximately $9,430,954. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Kirkhorn sold 250 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,677.86, for a total transaction of $419,465.00. Following the sale, the chief financial officer now directly owns 11,331 shares in the company, valued at approximately $19,011,831.66. The disclosure for this sale can be found here. Insiders have sold a total of 98,621 shares of company stock worth $78,964,959 in the last ninety days. Corporate insiders own 23.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Capstone Financial Group Inc. acquired a new stake in Tesla in the 2nd quarter valued at $25,000. Danda Trouve Investment Management Inc. grew its stake in Tesla by 76.5% in the 2nd quarter. Danda Trouve Investment Management Inc. now owns 30 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 13 shares during the period. Asset Advisors Investment Management LLC acquired a new stake in Tesla in the 2nd quarter valued at $39,000. Beese Fulmer Investment Management Inc. acquired a new stake in Tesla in the 2nd quarter valued at $42,000. Finally, Jacobi Capital Management LLC grew its stake in Tesla by 79.2% in the 2nd quarter. Jacobi Capital Management LLC now owns 43 shares of the electric vehicle producer’s stock valued at $46,000 after acquiring an additional 19 shares during the period. 48.22% of the stock is currently owned by hedge funds and other institutional investors.

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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