Analysts Set Tesla, Inc. (NASDAQ:TSLA) Price Target at $230.18

Shares of Tesla, Inc. (NASDAQ:TSLA) have received an average recommendation of “Hold” from the thirty-nine analysts that are covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $231.06.

Several analysts have weighed in on TSLA shares. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TSLA. Bank & Trust Co bought a new position in Tesla in the 2nd quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter valued at about $29,000. Finally, Clean Yield Group boosted its holdings in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $338.23 on Friday. The stock’s 50 day simple moving average is $268.52 and its two-hundred day simple moving average is $229.16. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 92.67, a PEG ratio of 11.45 and a beta of 2.29. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $361.93.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. As a group, analysts expect that Tesla will post 1.99 earnings per share for the current fiscal year.

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.