Bank of America Reiterates “$155.00” Price Target for Tesla (TSLA)

Bank of America set a $155.00 price target on Tesla (NASDAQ:TSLA) in a report released on Wednesday. The firm currently has a sell rating on the electric vehicle producer’s stock.

Other equities research analysts also recently issued research reports about the stock. Sanford C. Bernstein set a $265.00 target price on shares of Tesla and gave the stock a neutral rating in a research note on Wednesday, September 20th. Jefferies Group assumed coverage on shares of Tesla in a research note on Tuesday, September 19th. They set an underperform rating and a $280.00 target price for the company. They noted that the move was a valuation call. Instinet assumed coverage on shares of Tesla in a research note on Wednesday, October 4th. They set a buy rating and a $500.00 target price for the company. Vetr upgraded shares of Tesla from a strong sell rating to a sell rating and set a $308.16 target price for the company in a research note on Tuesday, October 3rd. Finally, Nomura assumed coverage on shares of Tesla in a research note on Wednesday, October 4th. They set a buy rating and a $500.00 target price for the company. Eleven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $329.47.

Tesla (NASDAQ:TSLA) opened at $316.58 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Tesla has a 12 month low of $225.45 and a 12 month high of $389.61. The stock has a market cap of $53,540.00, a price-to-earnings ratio of -36.98 and a beta of 0.94.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Tesla’s revenue for the quarter was up 29.9% on a year-over-year basis. equities research analysts forecast that Tesla will post -11.38 EPS for the current fiscal year.

In other news, VP Eric Branderiz sold 1,736 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $339.49, for a total transaction of $589,354.64. Following the completion of the transaction, the vice president now directly owns 1,736 shares of the company’s stock, valued at approximately $589,354.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $330.29, for a total transaction of $723,335.10. Following the transaction, the director now directly owns 154,419 shares of the company’s stock, valued at $51,003,051.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,692 shares of company stock valued at $4,692,003. Corporate insiders own 23.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of TSLA. Janus Henderson Group PLC boosted its position in Tesla by 126.6% during the third quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock worth $186,601,000 after acquiring an additional 305,596 shares during the last quarter. Vanguard Group Inc. boosted its position in Tesla by 4.9% during the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after acquiring an additional 292,602 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Tesla during the second quarter worth approximately $66,601,000. Jasper Ridge Partners L.P. boosted its position in Tesla by 7,001.5% during the second quarter. Jasper Ridge Partners L.P. now owns 161,276 shares of the electric vehicle producer’s stock worth $58,319,000 after acquiring an additional 159,005 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new stake in Tesla during the second quarter worth approximately $52,108,000. 57.12% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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