Tesla (TSLA) PT Lowered to $369.00

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Tesla (NASDAQ:TSLA) had its price objective lowered by JMP Securities from $374.00 to $369.00 in a report issued on Thursday, April 25th, BenzingaRatingsTable reports. The brokerage presently has a “market outperform” rating on the electric vehicle producer’s stock. JMP Securities’ target price would suggest a potential upside of 74.86% from the company’s current price.

TSLA has been the topic of a number of other reports. Cowen set a $200.00 price target on shares of Tesla and gave the company a “sell” rating in a research note on Friday, January 18th. Barclays set a $192.00 price target on shares of Tesla and gave the company a “sell” rating in a research note on Tuesday, April 9th. CIBC reiterated an “outperform” rating and set a $437.00 price target (up previously from $418.00) on shares of Tesla in a report on Thursday, January 31st. Bank of America set a $225.00 price target on shares of Tesla and gave the stock a “sell” rating in a research note on Friday, January 18th. Finally, Goldman Sachs Group reiterated a “sell” rating and set a $210.00 price target on shares of Tesla in a research note on Friday, March 1st. Sixteen equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $303.47.

Shares of NASDAQ TSLA opened at $211.03 on Thursday. Tesla has a 52-week low of $208.92 and a 52-week high of $387.46. The stock has a market capitalization of $39.67 billion, a PE ratio of -36.89 and a beta of 0.27. The company has a current ratio of 0.83, a quick ratio of 0.42 and a debt-to-equity ratio of 1.79.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.51) by ($1.59). Tesla had a negative return on equity of 18.23% and a negative net margin of 4.29%. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the previous year, the firm posted ($3.35) earnings per share. The business’s revenue was up 33.2% compared to the same quarter last year. Research analysts predict that Tesla will post -4.64 earnings per share for the current fiscal year.

In other Tesla news, CEO Elon Musk purchased 102,880 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $243.00 per share, for a total transaction of $24,999,840.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Antonio J. Gracias sold 16,780 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $285.46, for a total transaction of $4,790,018.80. Following the completion of the transaction, the director now owns 16,792 shares in the company, valued at approximately $4,793,444.32. The disclosure for this sale can be found here. Insiders sold 78,560 shares of company stock worth $21,772,906 over the last three months. Corporate insiders own 22.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in shares of Tesla by 320.5% in the third quarter. The Manufacturers Life Insurance Company now owns 22,410 shares of the electric vehicle producer’s stock worth $5,934,000 after buying an additional 17,080 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Tesla by 41.7% in the third quarter. Mackenzie Financial Corp now owns 1,325 shares of the electric vehicle producer’s stock worth $351,000 after buying an additional 390 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Tesla by 6.0% in the third quarter. Macquarie Group Ltd. now owns 66,376 shares of the electric vehicle producer’s stock worth $17,575,000 after buying an additional 3,780 shares during the last quarter. B. Riley Wealth Management Inc. bought a new stake in shares of Tesla in the third quarter worth $489,000. Finally, Krane Funds Advisors LLC increased its stake in shares of Tesla by 28.8% in the third quarter. Krane Funds Advisors LLC now owns 4,042 shares of the electric vehicle producer’s stock worth $1,070,000 after buying an additional 903 shares during the last quarter. Institutional investors own 59.71% 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, Netherlands, 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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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