Tesla (NASDAQ:TSLA) received a $385.00 price target from investment analysts at Oppenheimer in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Oppenheimer’s price objective indicates a potential upside of 32.48% from the stock’s current price.
Several other brokerages have also commented on TSLA. Berenberg Bank reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Tesla in a report on Wednesday, August 8th. Jefferies Financial Group lifted their price objective on Tesla from $250.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, August 8th. Needham & Company LLC reaffirmed a “sell” rating on shares of Tesla in a report on Wednesday, August 8th. Sanford C. Bernstein reaffirmed a “neutral” rating and issued a $265.00 price objective on shares of Tesla in a report on Wednesday, August 8th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $308.00 price objective on shares of Tesla in a report on Wednesday, August 8th. Twelve analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $310.71.
Shares of TSLA traded up $9.87 during trading hours on Thursday, hitting $290.61. The stock had a trading volume of 69,628 shares, compared to its average volume of 11,089,729. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.73 and a quick ratio of 0.37. Tesla has a 12 month low of $244.59 and a 12 month high of $389.61. The firm has a market capitalization of $51.46 billion, a P/E ratio of -25.31 and a beta of 0.87.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 1st. The electric vehicle producer reported ($3.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.61) by $0.55. Tesla had a negative return on equity of 50.84% and a negative net margin of 19.89%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the company posted ($1.33) earnings per share. Tesla’s revenue was up 43.5% compared to the same quarter last year. analysts expect that Tesla will post -10.77 EPS for the current fiscal year.
In other Tesla news, CEO Elon Musk acquired 55,000 shares of the stock in a transaction dated Tuesday, June 12th. The shares were acquired at an average cost of $343.19 per share, for a total transaction of $18,875,450.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Douglas Field sold 3,000 shares of the business’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $359.27, for a total value of $1,077,810.00. Following the completion of the transaction, the vice president now owns 20,964 shares in the company, valued at $7,531,736.28. The disclosure for this sale can be found here. 22.80% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in TSLA. Jennison Associates LLC lifted its position in shares of Tesla by 33.6% in the second quarter. Jennison Associates LLC now owns 4,332,187 shares of the electric vehicle producer’s stock valued at $1,485,724,000 after acquiring an additional 1,089,377 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Tesla by 74,343.1% in the first quarter. Summit Trail Advisors LLC now owns 583,634 shares of the electric vehicle producer’s stock valued at $584,000 after acquiring an additional 582,850 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Tesla by 3.1% in the second quarter. Baillie Gifford & Co. now owns 13,171,801 shares of the electric vehicle producer’s stock worth $4,517,269,000 after buying an additional 395,727 shares in the last quarter. Soma Equity Partners LP purchased a new stake in shares of Tesla in the first quarter worth about $45,242,000. Finally, SG Americas Securities LLC lifted its position in shares of Tesla by 239.9% in the second quarter. SG Americas Securities LLC now owns 190,942 shares of the electric vehicle producer’s stock worth $65,484,000 after buying an additional 134,759 shares in the last quarter. Institutional investors and hedge funds own 56.26% of the company’s stock.
Tesla Company Profile
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.
Featured Article: Technical Analysis
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.