Brokerages Set Tesla Inc (TSLA) Target Price at $297.31

Tesla Inc (NASDAQ:TSLA) has earned a consensus rating of “Hold” from the thirty-six brokerages that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $302.40.

TSLA has been the subject of several analyst reports. Goldman Sachs Group, Inc. (The) raised their target price on Tesla from $180.00 to $190.00 in a research note on Friday, August 4th. Dougherty & Co reaffirmed a “buy” rating and issued a $375.00 price target (down from $500.00) on shares of Tesla in a research note on Wednesday, April 26th. Zacks Investment Research raised Tesla from a “hold” rating to a “buy” rating and set a $345.00 target price on the stock in a research note on Tuesday, April 25th. Guggenheim restated a “buy” rating and set a $320.00 price target on shares of Tesla in a research report on Wednesday, April 19th. Finally, Berenberg Bank upgraded Tesla from a “hold” rating to a “buy” rating and lifted their price target for the company from $193.00 to $464.00 in a research report on Tuesday, June 13th.

Shares of Tesla (TSLA) opened at 357.87 on Friday. Tesla has a one year low of $178.19 and a one year high of $386.99. The firm has a 50-day moving average of $341.13 and a 200-day moving average of $307.07. The company’s market capitalization is $59.72 billion.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 26.74% and a negative net margin of 14.39%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm posted ($1.06) EPS. The firm’s revenue for the quarter was up 119.6% on a year-over-year basis. Equities research analysts expect that Tesla will post ($6.29) EPS for the current fiscal year.

In other news, Director Kimbal Musk sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total transaction of $703,778.40. Following the transaction, the director now directly owns 160,274 shares in the company, valued at approximately $51,505,652.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 23.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Pittenger & Anderson Inc. boosted its position in Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after buying an additional 50 shares in the last quarter. Winfield Associates Inc. boosted its position in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after buying an additional 150 shares in the last quarter. Acropolis Investment Management LLC acquired a new position in Tesla during the second quarter worth approximately $122,000. North Star Investment Management Corp. boosted its position in Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after buying an additional 9 shares during the period. Finally, Carroll Financial Associates Inc. boosted its position in Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 63.71% of the company’s stock.

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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.

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