Tesla (NASDAQ:TSLA) Price Target Raised to $300.00

Tesla (NASDAQ:TSLA) had its target price raised by Jefferies Financial Group from $195.00 to $300.00 in a research note released on Thursday morning,Benzinga reports. They currently have a hold rating on the electric vehicle producer’s stock.

Several other research firms have also issued reports on TSLA. Roth Mkm reiterated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. Canaccord Genuity Group increased their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. HSBC reissued a “reduce” rating and set a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Piper Sandler upped their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Wedbush lifted their target price on shares of Tesla from $300.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $230.18.

Tesla Price Performance

Shares of Tesla stock opened at $320.72 on Thursday. The firm has a market cap of $1.03 trillion, a P/E ratio of 87.87, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. The firm’s 50-day simple moving average is $252.30 and its 200-day simple moving average is $220.72. Tesla has a twelve month low of $138.80 and a twelve month high of $358.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that Tesla will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank & Trust Co acquired a new position in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% during 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. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the 3rd quarter valued at about $29,000. Finally, Clean Yield Group lifted its holdings in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.