Tesla’s (TSLA) Buy Rating Reaffirmed at Oppenheimer

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Tesla (NASDAQ:TSLA)‘s stock had its “buy” rating restated by equities researchers at Oppenheimer in a note issued to investors on Monday. They currently have a $385.00 price target on the electric vehicle producer’s stock. Oppenheimer’s target price would indicate a potential upside of 24.82% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Tesla from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Evercore ISI set a $301.00 price target on shares of Tesla and gave the stock a “hold” rating in a research note on Wednesday, August 8th. Royal Bank of Canada reiterated a “neutral” rating and set a $315.00 price target on shares of Tesla in a research note on Wednesday, August 8th. KeyCorp reiterated a “hold” rating on shares of Tesla in a research note on Thursday, May 3rd. Finally, Sanford C. Bernstein reiterated a “neutral” rating and set a $265.00 price target on shares of Tesla in a research note on Friday, June 22nd. Eleven equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $312.54.

TSLA stock opened at $308.44 on Monday. 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 has a 52-week low of $244.59 and a 52-week high of $389.61. The stock has a market cap of $52.12 billion, a PE ratio of -26.87 and a beta of 0.65.

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

In other news, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $358.26, for a total value of $671,737.50. Following the sale, the director now owns 150,208 shares of the company’s stock, valued at $53,813,518.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John Douglas Field sold 3,000 shares of Tesla stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $359.27, for a total transaction of $1,077,810.00. Following the completion of the sale, the vice president now directly owns 20,964 shares in the company, valued at approximately $7,531,736.28. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Large investors have recently modified their holdings of the company. Northwest Wealth Management LLC purchased a new stake in shares of Tesla in the second quarter valued at about $103,000. Stelac Advisory Services LLC purchased a new stake in Tesla during the second quarter worth about $114,000. BerganKDV Wealth Management LLC purchased a new stake in Tesla during the second quarter worth about $124,000. Macroview Investment Management LLC purchased a new stake in Tesla during the first quarter worth about $106,000. Finally, Jacobi Capital Management LLC boosted its holdings in Tesla by 154.4% during the first quarter. Jacobi Capital Management LLC now owns 430 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 261 shares in the last quarter. 59.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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