Piper Jaffray Companies Equities Analysts Reduce Earnings Estimates for Tesla Inc (NASDAQ:TSLA)

Tesla Inc (NASDAQ:TSLA) – Equities research analysts at Piper Jaffray Companies lowered their Q2 2020 EPS estimates for Tesla in a report released on Thursday, October 17th. Piper Jaffray Companies analyst A. Potter now expects that the electric vehicle producer will post earnings of $0.46 per share for the quarter, down from their prior forecast of $0.53.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($0.76). The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.44 billion. Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The business’s revenue was up 58.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.06) earnings per share.

Several other equities analysts also recently weighed in on TSLA. Oppenheimer set a $356.00 target price on Tesla and gave the company a “buy” rating in a research report on Tuesday, October 15th. Cfra downgraded Tesla to a “sell” rating and set a $135.00 target price for the company. in a research report on Friday, July 26th. Nord/LB set a $195.00 target price on Tesla and gave the company a “sell” rating in a research report on Monday, October 7th. Canaccord Genuity dropped their target price on Tesla from $394.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Jefferies Financial Group set a $300.00 target price on Tesla and gave the company a “buy” rating in a research report on Tuesday, October 15th. Eighteen research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $266.35.

NASDAQ TSLA opened at $255.58 on Monday. The company has a market cap of $45.78 billion, a P/E ratio of -44.68 and a beta of 0.52. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.06 and a quick ratio of 0.71. The stock has a 50-day moving average of $241.48 and a two-hundred day moving average of $234.08. Tesla has a 1-year low of $176.99 and a 1-year high of $379.49.

Hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. lifted its stake in Tesla by 1.2% in the second quarter. Baillie Gifford & Co. now owns 13,409,732 shares of the electric vehicle producer’s stock valued at $2,996,539,000 after buying an additional 165,206 shares during the last quarter. DRW Securities LLC raised its stake in shares of Tesla by 12.5% during the second quarter. DRW Securities LLC now owns 2,383 shares of the electric vehicle producer’s stock worth $532,000 after purchasing an additional 265 shares during the last quarter. Northstar Group Inc. purchased a new stake in shares of Tesla during the second quarter worth approximately $308,000. California State Teachers Retirement System raised its stake in shares of Tesla by 3.1% during the second quarter. California State Teachers Retirement System now owns 233,305 shares of the electric vehicle producer’s stock worth $52,134,000 after purchasing an additional 7,100 shares during the last quarter. Finally, ARK Investment Management LLC raised its stake in shares of Tesla by 54.3% during the second quarter. ARK Investment Management LLC now owns 1,163,182 shares of the electric vehicle producer’s stock worth $259,925,000 after purchasing an additional 409,332 shares during the last quarter. Institutional investors own 54.41% of the company’s stock.

In other news, Director Robyn M. Denholm acquired 1,000 shares of Tesla stock in a transaction on Monday, July 29th. The stock was bought at an average price of $232.72 per share, for a total transaction of $232,720.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at $232,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Kirkhorn sold 150 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $262.00, for a total value of $39,300.00. Following the completion of the sale, the chief financial officer now owns 9,851 shares of the company’s stock, valued at approximately $2,580,962. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,450 shares of company stock valued at $3,566,021. 24.40% of the stock is owned by company insiders.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Earnings History and Estimates for Tesla (NASDAQ:TSLA)

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