Tesla (NASDAQ:TSLA) Price Target Raised to $265.00

Tesla (NASDAQ:TSLA - Get Free Report) had its price target increased by equities researchers at Bank of America from $255.00 to $265.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the electric vehicle producer's stock. Bank of America's price target would indicate a potential upside of 24.03% from the company's previous close.

Other equities analysts have also issued reports about the company. HSBC reissued a "reduce" rating and set a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday. Wells Fargo & Company increased their price target on Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a research note on Thursday. TD Cowen increased their price target on Tesla from $160.00 to $180.00 and gave the company a "hold" rating in a research note on Wednesday, July 3rd. Finally, Roth Mkm reissued a "neutral" rating and set a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $216.87.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $213.65 on Thursday. The company has a market cap of $682.53 billion, a P/E ratio of 60.01, a P/E/G ratio of 6.24 and a beta of 2.29. Tesla has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm's fifty day moving average is $228.54 and its two-hundred day moving average is $206.41.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period last year, the firm posted $0.78 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Tesla will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company's stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

A number of institutional investors have recently made changes to their positions in TSLA. Bank & Trust Co acquired a new stake in shares of Tesla in the 2nd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Clean Yield Group lifted its position in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after acquiring an additional 48 shares during the period. Finally, M&R Capital Management Inc. lifted its position in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

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