Tesla (NASDAQ:TSLA) Price Target Raised to $1,050.00

Tesla (NASDAQ:TSLA) had its price objective raised by JMP Securities from $1,001.00 to $1,050.00 in a research note released on Tuesday, The Fly reports. They currently have an outperform rating on the electric vehicle producer’s stock.

A number of other brokerages also recently commented on TSLA. Wedbush boosted their target price on Tesla from $800.00 to $1,000.00 and gave the company a neutral rating in a research note on Wednesday, June 10th. Bank of America upgraded Tesla to a buy rating in a research note on Wednesday, May 6th. Argus reiterated a hold rating on shares of Tesla in a research note on Thursday, June 4th. Goldman Sachs Group reiterated a neutral rating on shares of Tesla in a research note on Friday, June 12th. Finally, Canaccord Genuity reiterated a hold rating and set a $650.00 price target on shares of Tesla in a research note on Thursday, April 30th. Eleven analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $630.19.

Shares of NASDAQ TSLA opened at $1,208.66 on Tuesday. The business’s 50-day moving average price is $907.09 and its two-hundred day moving average price is $683.89. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.24 and a quick ratio of 0.87. Tesla has a one year low of $211.00 and a one year high of $1,228.00. The company has a market capitalization of $224.66 billion, a P/E ratio of -1,358.04 and a beta of 1.18.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, April 29th. The electric vehicle producer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $1.60. Tesla had a negative return on equity of 1.86% and a negative net margin of 0.55%. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the previous year, the company posted ($2.90) earnings per share. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, equities analysts anticipate that Tesla will post -0.56 EPS for the current year.

In related news, CFO Zachary Kirkhorn sold 150 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $772.92, for a total transaction of $115,938.00. Following the sale, the chief financial officer now directly owns 11,282 shares in the company, valued at approximately $8,720,083.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 300 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $623.63, for a total value of $187,089.00. Following the sale, the senior vice president now owns 4,445 shares in the company, valued at $2,772,035.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,198 shares of company stock valued at $15,698,572. 23.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec grew its position in Tesla by 225.3% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 25,700 shares of the electric vehicle producer’s stock worth $10,751,000 after acquiring an additional 17,800 shares during the last quarter. Macquarie Group Ltd. grew its position in Tesla by 401.5% during the 4th quarter. Macquarie Group Ltd. now owns 15,587 shares of the electric vehicle producer’s stock worth $6,521,000 after acquiring an additional 12,479 shares during the last quarter. CENTRAL TRUST Co grew its position in Tesla by 1.6% during the 1st quarter. CENTRAL TRUST Co now owns 900 shares of the electric vehicle producer’s stock worth $472,000 after acquiring an additional 14 shares during the last quarter. Baird Financial Group Inc. grew its position in Tesla by 0.7% during the 4th quarter. Baird Financial Group Inc. now owns 69,201 shares of the electric vehicle producer’s stock worth $28,949,000 after acquiring an additional 459 shares during the last quarter. Finally, Ellevest Inc. grew its position in Tesla by 544.4% during the 1st quarter. Ellevest Inc. now owns 406 shares of the electric vehicle producer’s stock worth $213,000 after acquiring an additional 343 shares during the last quarter. Institutional investors and hedge funds own 50.40% of the company’s stock.

Tesla Company Profile

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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