Tesla (NASDAQ:TSLA) Price Target Raised to $265.00

Tesla (NASDAQ:TSLA) had its target price hoisted by equities researchers at Bank of America from $255.00 to $265.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the electric vehicle producer’s stock. Bank of America‘s target price points to a potential upside of 24.03% from the company’s current price.

Several other equities analysts have also weighed in on the company. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and lifted their price target for the company from $147.00 to $197.00 in a research note on Friday, July 12th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a research note on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a research note on Friday, July 5th. Finally, Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $216.87.

Tesla Stock Performance

Shares of TSLA stock opened at $213.65 on Thursday. The stock has a market cap of $682.53 billion, a PE ratio of 60.01, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The business has a 50-day simple moving average of $228.54 and a 200-day simple moving average of $206.41. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. On average, equities analysts expect that Tesla will post 1.75 EPS for the current year.

Insider Activity at Tesla

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TSLA. Future Financial Wealth Managment LLC acquired a new position in Tesla during the first quarter worth $79,000. Wealthcare Advisory Partners LLC increased its position in shares of Tesla by 3.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock worth $2,576,000 after acquiring an additional 501 shares during the period. Register Financial Advisors LLC increased its position in shares of Tesla by 32.7% during the first quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock worth $295,000 after acquiring an additional 413 shares during the period. Kathmere Capital Management LLC increased its position in shares of Tesla by 9.2% during the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock worth $207,000 after acquiring an additional 99 shares during the period. Finally, Astoria Portfolio Advisors LLC. increased its position in shares of Tesla by 4.3% during the first quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock worth $260,000 after acquiring an additional 67 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.