Tesla (NASDAQ:TSLA) Releases Earnings Results, Beats Expectations By $0.14 EPS

Tesla (NASDAQ:TSLA) announced its earnings results on Wednesday. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14, Briefing.com reports. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. Tesla’s revenue was up 7.8% compared to the same quarter last year.

Tesla Trading Up 21.9 %

NASDAQ:TSLA traded up $46.83 on Thursday, reaching $260.48. 203,681,145 shares of the stock traded hands, compared to its average volume of 94,351,078. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00. The company’s 50 day moving average is $228.54 and its 200-day moving average is $206.41. The firm has a market capitalization of $832.14 billion, a price-to-earnings ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSLA. Piper Sandler lifted their target price on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group increased their target price on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research report on Monday. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. The Goldman Sachs Group raised their price objective on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company increased their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $218.18.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 20.70% 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.