Tesla, Inc. (NASDAQ:TSLA) Receives $414.50 Average Price Target from Analysts

by · The Markets Daily

Tesla, Inc. (NASDAQ:TSLAGet Free Report) has earned an average rating of “Hold” from the forty-four brokerages that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $414.5014.

TSLA has been the subject of several research reports. China Renaissance lifted their price objective on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research report on Friday, October 24th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a research note on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesla from $470.00 to $500.00 and gave the company a “buy” rating in a report on Friday, December 19th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, Stifel Nicolaus upped their price objective on shares of Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a research note on Monday, November 17th.

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Key Stores Impacting Tesla

Here are the key news stories impacting Tesla this week:

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. 19.90% of the stock is owned by insiders.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Chapman Financial Group LLC purchased a new stake in shares of Tesla during the 2nd quarter worth about $26,000. Chelsea Counsel Co. lifted its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in Tesla during the second quarter worth approximately $29,000. Manning & Napier Advisors LLC acquired a new stake in shares of Tesla in the third quarter worth $29,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla in the 2nd quarter valued at $30,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 1.0%

TSLA opened at $449.72 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market cap of $1.50 trillion, a price-to-earnings ratio of 299.81, a PEG ratio of 11.48 and a beta of 1.87. Tesla has a one year low of $214.25 and a one year high of $498.83. The business’s fifty day moving average is $445.67 and its two-hundred day moving average is $389.64.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. Analysts anticipate that Tesla will post 2.56 EPS for the current fiscal year.

About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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