Goldman Sachs Group Analysts Give Tesla (TSLA) a $210.00 Price Target

Goldman Sachs Group set a $210.00 price objective on Tesla (NASDAQ:TSLA) in a report issued on Monday morning. The firm currently has a sell rating on the electric vehicle producer’s stock.

Several other brokerages have also recently commented on TSLA. Barclays reiterated a sell rating and issued a $210.00 price target on shares of Tesla in a research note on Monday, July 9th. KeyCorp reiterated a hold rating on shares of Tesla in a research note on Thursday, August 2nd. Vertical Group reiterated a sell rating on shares of Tesla in a research note on Wednesday, September 19th. Zacks Investment Research cut shares of Tesla from a buy rating to a hold rating in a research note on Monday, June 4th. Finally, Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the stock a neutral rating in a research note on Tuesday, July 3rd. Fourteen research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $312.54.

Shares of TSLA stock opened at $309.58 on Monday. The firm has a market capitalization of $51.12 billion, a price-to-earnings ratio of -26.97 and a beta of 0.87. Tesla has a 52 week low of $244.59 and a 52 week high of $387.46. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.37 and a current ratio of 0.73.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) EPS for the quarter, topping the consensus estimate of ($3.61) by $0.55. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.33) EPS. equities analysts expect that Tesla will post -10.77 earnings per share for the current fiscal year.

In related news, Director Kimbal Musk sold 1,875 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $358.26, for a total transaction of $671,737.50. Following the transaction, the director now directly owns 150,208 shares in the company, valued at approximately $53,813,518.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.80% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Summit Trail Advisors LLC grew its holdings in Tesla by 7.3% during the 2nd quarter. Summit Trail Advisors LLC now owns 2,448 shares of the electric vehicle producer’s stock valued at $840,000 after purchasing an additional 166 shares during the last quarter. Global Financial Private Capital LLC grew its holdings in Tesla by 4.5% during the 1st quarter. Global Financial Private Capital LLC now owns 3,952 shares of the electric vehicle producer’s stock valued at $1,052,000 after purchasing an additional 171 shares during the last quarter. Financial Advocates Investment Management grew its holdings in Tesla by 4.8% during the 1st quarter. Financial Advocates Investment Management now owns 3,864 shares of the electric vehicle producer’s stock valued at $1,028,000 after purchasing an additional 176 shares during the last quarter. FCG Advisors LLC grew its holdings in Tesla by 26.6% during the 1st quarter. FCG Advisors LLC now owns 881 shares of the electric vehicle producer’s stock valued at $234,000 after purchasing an additional 185 shares during the last quarter. Finally, Boston Private Wealth LLC grew its holdings in Tesla by 19.8% during the 1st quarter. Boston Private Wealth LLC now owns 1,167 shares of the electric vehicle producer’s stock valued at $311,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 62.00% 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, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

See Also: How to Use a Moving Average for Trading 

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply