Tesla Inc (TSLA) Stock Rating Reaffirmed by Morgan Stanley

Tesla Inc (NASDAQ:TSLA)‘s stock had its “overweight” rating restated by analysts at Morgan Stanley in a note issued to investors on Saturday. They presently have a $305.00 price target on the electric vehicle producer’s stock. Morgan Stanley’s price target suggests a potential downside of 0.20% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Tesla in a research report on Thursday, March 23rd. Sanford C. Bernstein reiterated a “hold” rating and issued a $250.00 target price on shares of Tesla in a research report on Monday, March 20th. Deutsche Bank AG reiterated a “hold” rating and issued a $240.00 target price (up from $220.00) on shares of Tesla in a research report on Monday, March 20th. Goldman Sachs Group Inc reiterated a “sell” rating and issued a $187.00 target price (up from $185.00) on shares of Tesla in a research report on Friday, March 17th. Finally, Robert W. Baird set a $368.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, March 16th. Eight equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $266.42.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA) traded up 1.02% on Friday, reaching $305.60. 4,502,377 shares of the company’s stock traded hands. Tesla has a 12-month low of $178.19 and a 12-month high of $313.73. The stock’s market cap is $49.41 billion. The stock has a 50 day moving average price of $274.79 and a 200 day moving average price of $232.49.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, February 22nd. The electric vehicle producer reported ($0.69) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.26. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.21 billion. Tesla had a negative return on equity of 29.17% and a negative net margin of 14.74%. The business’s revenue was up 88.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.87) earnings per share. Analysts forecast that Tesla will post ($1.63) EPS for the current year.

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In other Tesla news, VP John Douglas Field sold 500 shares of the firm’s stock in a transaction that occurred on Friday, April 7th. The shares were sold at an average price of $301.45, for a total transaction of $150,725.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Elon Musk acquired 95,420 shares of the business’s stock in a transaction on Friday, March 17th. The shares were bought at an average cost of $262.00 per share, for a total transaction of $25,000,040.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 16,391 shares of company stock worth $4,399,594. 27.70% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Independent Advisor Alliance bought a new stake in Tesla during the fourth quarter worth $102,000. Parallel Advisors LLC bought a new stake in Tesla during the fourth quarter worth $104,000. Advisory Services Network LLC boosted its stake in Tesla by 14.5% in the third quarter. Advisory Services Network LLC now owns 489 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 62 shares during the last quarter. Reilly Financial Advisors LLC raised its position in shares of Tesla by 92.9% in the third quarter. Reilly Financial Advisors LLC now owns 492 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 237 shares during the period. Finally, Cable Hill Partners LLC raised its position in shares of Tesla by 36.1% in the third quarter. Cable Hill Partners LLC now owns 693 shares of the electric vehicle producer’s stock worth $139,000 after buying an additional 184 shares during the period. 57.29% of the stock is currently owned by institutional investors.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

5 Day Chart for NASDAQ:TSLA

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