Tesla (NASDAQ:TSLA) Given New $500.00 Price Target at Morgan Stanley

Tesla (NASDAQ:TSLA) had its target price increased by equities research analysts at Morgan Stanley from $440.00 to $500.00 in a research report issued to clients and investors on Friday, Briefing.com Automated Import reports. The firm currently has a “weight” rating on the electric vehicle producer’s stock. Morgan Stanley’s price objective points to a potential upside of 50.14% from the company’s current price.

Several other analysts also recently commented on the company. China Renaissance Securities downgraded Tesla from a “buy” rating to a “hold” rating and set a $346.00 target price on the stock. in a research note on Tuesday, November 26th. BNP Paribas assumed coverage on Tesla in a research report on Wednesday, October 2nd. They set an “outperform” rating on the stock. Roth Capital reiterated a “sell” rating and issued a $249.00 price objective on shares of Tesla in a report on Monday, November 18th. Citigroup boosted their target price on Tesla from $191.00 to $222.00 and gave the stock a “sell” rating in a research report on Wednesday. Finally, Robert W. Baird reissued a “buy” rating and issued a $355.00 target price on shares of Tesla in a research report on Friday, November 22nd. Eighteen equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Tesla presently has an average rating of “Hold” and a consensus target price of $274.87.

NASDAQ TSLA opened at $333.03 on Friday. Tesla has a 12 month low of $176.99 and a 12 month high of $379.49. The stock has a market cap of $59.56 billion, a P/E ratio of -58.22 and a beta of 0.59. The stock’s fifty day moving average price is $320.46 and its 200-day moving average price is $250.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $1.86 earnings per share for the quarter, beating the consensus estimate of ($0.42) by $2.28. The firm had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.48 billion. Tesla had a negative return on equity of 13.42% and a negative net margin of 3.39%. The company’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the company earned $2.90 earnings per share. As a group, analysts forecast that Tesla will post -4.85 earnings per share for the current fiscal year.

In other news, SVP Andrew D. Baglino sold 2,366 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $313.25, for a total transaction of $741,149.50. Following the sale, the senior vice president now directly owns 3,288 shares in the company, valued at approximately $1,029,966. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jerome M. Guillen sold 2,000 shares of Tesla stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $329.40, for a total value of $658,800.00. Following the completion of the transaction, the insider now owns 10,973 shares of the company’s stock, valued at approximately $3,614,506.20. The disclosure for this sale can be found here. Insiders sold a total of 96,681 shares of company stock valued at $32,955,635 in the last quarter. 24.40% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Personal Wealth Partners raised its holdings in Tesla by 5,000.0% during the 3rd quarter. Personal Wealth Partners now owns 102 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 100 shares during the period. Private Capital Group LLC increased its position in Tesla by 110.3% during the second quarter. Private Capital Group LLC now owns 122 shares of the electric vehicle producer’s stock valued at $42,000 after acquiring an additional 64 shares during the last quarter. AllSquare Wealth Management LLC purchased a new stake in shares of Tesla in the second quarter valued at $28,000. Bedel Financial Consulting Inc. raised its stake in shares of Tesla by 197.7% in the second quarter. Bedel Financial Consulting Inc. now owns 128 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 85 shares during the period. Finally, HM Payson & Co. bought a new stake in shares of Tesla in the 2nd quarter worth about $30,000. 52.61% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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