Tesla Inc. (NASDAQ:TSLA) had its price objective lifted by equities researchers at Citigroup Inc. to $371.00 in a report issued on Thursday. The brokerage currently has a “positive” rating on the electric vehicle producer’s stock. Citigroup Inc.’s target price indicates a potential upside of 2.23% from the stock’s previous close.
TSLA has been the topic of several other reports. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price target on the stock in a research note on Tuesday, June 13th. Robert W. Baird restated an “outperform” rating and set a $368.00 price target on shares of Tesla in a research note on Tuesday, June 20th. BidaskClub lowered Tesla from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada restated a “sector perform” rating and set a $345.00 price target (up from $314.00) on shares of Tesla in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG restated a “hold” rating and set a $240.00 price target on shares of Tesla in a research note on Wednesday, August 9th. Eight research analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $310.84.
Shares of Tesla (TSLA) opened at 362.91 on Thursday. The firm’s market cap is $60.56 billion. The stock has a 50 day moving average price of $340.15 and a 200-day moving average price of $309.81. Tesla has a 1-year low of $178.19 and a 1-year high of $386.99.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm earned ($1.06) EPS. The firm’s revenue was up 119.6% compared to the same quarter last year. On average, equities research analysts expect that Tesla will post ($6.34) earnings per share for the current fiscal year.
In related news, Director Kimbal Musk sold 4,690 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total value of $1,724,419.20. Following the completion of the sale, the director now owns 166,164 shares in the company, valued at approximately $61,095,179.52. The transaction was disclosed in a filing with the SEC, which is available through this link. 23.10% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Crestwood Advisors Group LLC purchased a new stake in Tesla during the first quarter worth approximately $101,000. Pittenger & Anderson Inc. boosted its stake in Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after buying an additional 50 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares in the last quarter. Winfield Associates Inc. boosted its stake in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after buying an additional 150 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Tesla during the first quarter worth approximately $122,000. Institutional investors and hedge funds own 62.92% of the company’s stock.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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