Tesla’s (TSLA) “Market Perform” Rating Reaffirmed at Oppenheimer

Tesla (NASDAQ:TSLAGet Free Report)‘s stock had its “market perform” rating reissued by equities researchers at Oppenheimer in a research note issued to investors on Tuesday, Benzinga reports.

Several other research firms have also recently commented on TSLA. Barclays lowered their price target on Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a report on Thursday, January 25th. Piper Sandler decreased their target price on Tesla from $295.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $218.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, JPMorgan Chase & Co. decreased their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $204.63.

Get Our Latest Stock Report on Tesla

Tesla Price Performance

Tesla stock traded down $8.38 during midday trading on Tuesday, reaching $166.84. 29,556,585 shares of the company were exchanged, compared to its average volume of 101,106,766. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The company has a market capitalization of $531.35 billion, a price-to-earnings ratio of 38.59, a P/E/G ratio of 3.97 and a beta of 2.40. The firm’s 50-day simple moving average is $186.33 and its 200-day simple moving average is $220.38. 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 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 EPS. On average, analysts anticipate that Tesla will post 2.44 EPS for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 198,598 shares of company stock worth $36,952,434 in the last three months. 20.90% of the stock is owned by insiders.

Institutional Trading of Tesla

Institutional investors have recently modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in shares of Tesla in the third quarter valued at $25,000. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the fourth quarter valued at $25,000. Lam Group Inc. purchased a new stake in shares of Tesla during the fourth quarter valued at $25,000. Alpha Paradigm Partners LLC purchased a new stake in shares of Tesla during the third quarter valued at $27,000. Finally, Halpern Financial Inc. lifted its holdings in shares of Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

(Get Free Report)

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.

Read More

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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.