Stifel Nicolaus Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its price objective lifted by Stifel Nicolaus from $483.00 to $508.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Stifel Nicolaus’ target price indicates a potential upside of 25.63% from the company’s current price.

TSLA has been the subject of a number of other research reports. Wedbush reissued an “outperform” rating and issued a $600.00 target price on shares of Tesla in a report on Wednesday, November 5th. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research report on Monday, October 13th. President Capital increased their price target on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, Mizuho lifted their price target on Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $394.31.

Tesla Stock Performance

Shares of Tesla stock opened at $404.35 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.34 trillion, a PE ratio of 269.57, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a 50 day moving average of $429.67 and a 200-day moving average of $361.33. Tesla has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. As a group, equities research analysts forecast that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Clough Capital Partners L P grew its holdings in shares of Tesla by 466.2% during the third quarter. Clough Capital Partners L P now owns 19,991 shares of the electric vehicle producer’s stock valued at $8,890,000 after buying an additional 16,460 shares during the last quarter. CSM Advisors LLC lifted its position in Tesla by 798.1% in the 3rd quarter. CSM Advisors LLC now owns 13,947 shares of the electric vehicle producer’s stock valued at $6,200,000 after acquiring an additional 12,394 shares in the last quarter. Cannell & Spears LLC boosted its stake in Tesla by 4.5% during the 3rd quarter. Cannell & Spears LLC now owns 1,260 shares of the electric vehicle producer’s stock valued at $560,000 after purchasing an additional 54 shares during the last quarter. Capital Impact Advisors LLC increased its holdings in Tesla by 20.5% during the 3rd quarter. Capital Impact Advisors LLC now owns 32,768 shares of the electric vehicle producer’s stock worth $14,573,000 after purchasing an additional 5,573 shares in the last quarter. Finally, Capitolis Liquid Global Markets LLC raised its stake in shares of Tesla by 47.0% in the third quarter. Capitolis Liquid Global Markets LLC now owns 275,400 shares of the electric vehicle producer’s stock worth $122,476,000 after purchasing an additional 88,000 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.