Tesla’s (TSLA) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Tesla (NASDAQ:TSLAFree Report) in a research note published on Tuesday, Benzinga reports. Wedbush currently has a $350.00 price objective on the electric vehicle producer’s stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $120.00 to $135.00 in a research note on Tuesday, October 3rd. Roth Mkm restated a neutral rating and issued a $85.00 target price on shares of Tesla in a research note on Thursday, October 19th. Barclays reduced their target price on shares of Tesla from $260.00 to $250.00 and set an equal weight rating on the stock in a research note on Thursday, January 18th. Citigroup decreased their price objective on Tesla from $271.00 to $255.00 and set a neutral rating for the company in a research report on Thursday, October 19th. Finally, UBS Group decreased their price objective on Tesla from $290.00 to $266.00 and set a neutral rating for the company in a research report on Tuesday, October 10th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $221.10.

View Our Latest Analysis on TSLA

Tesla Stock Performance

Shares of Tesla stock traded up $0.62 during midday trading on Tuesday, hitting $183.25. The company had a trading volume of 107,080,680 shares, compared to its average volume of 111,420,891. The business’s 50 day simple moving average is $236.61 and its two-hundred day simple moving average is $243.24. The stock has a market cap of $582.54 billion, a PE ratio of 42.35, a P/E/G ratio of 3.47 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.69 and a quick ratio of 1.18. Tesla has a 1-year low of $152.37 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 17.56% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities analysts predict that Tesla will post 3.18 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 173 shares of Tesla stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total value of $42,270.82. Following the sale, the chief financial officer now directly owns 104,930 shares in the company, valued at approximately $25,638,596.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Vaibhav Taneja sold 173 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total value of $42,270.82. Following the completion of the transaction, the chief financial officer now owns 104,930 shares in the company, valued at approximately $25,638,596.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 1,049 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $244.34, for a total value of $256,312.66. Following the completion of the transaction, the senior vice president now owns 61,124 shares of the company’s stock, valued at approximately $14,935,038.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,222 shares of company stock worth $2,298,583. 25.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. purchased a new position in Tesla during the third quarter valued at $25,000. Wyrmwood Management LLC bought a new stake in shares of Tesla in the 4th quarter worth $25,000. Halpern Financial Inc. increased its holdings in shares of Tesla by 1,111.1% in the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Alpha Paradigm Partners LLC bought a new stake in shares of Tesla in the 3rd quarter worth $27,000. Finally, Mendota Financial Group LLC increased its holdings in shares of Tesla by 3,733.3% in the 2nd quarter. Mendota Financial Group LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

About Tesla

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Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.

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