Tesla (NASDAQ:TSLA) Price Target Raised to $492.00 at Stifel Nicolaus

Tesla (NASDAQ:TSLA) had its price objective lifted by research analysts at Stifel Nicolaus from $411.00 to $492.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the electric vehicle producer’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 24.76% from the stock’s current price.

A number of other analysts have also recently weighed in on TSLA. Bank of America increased their price target on Tesla from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Wedbush reissued an “outperform” rating and set a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler raised their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $295.69.

Tesla Stock Performance

Shares of TSLA opened at $394.36 on Monday. The stock has a market capitalization of $1.27 trillion, a PE ratio of 108.04, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The business’s fifty day moving average price is $368.03 and its 200 day moving average price is $277.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54.

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

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 514,886 shares of company stock valued at $169,393,831 over the last quarter. Company insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Connable Office Inc. grew its holdings in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the last quarter. Community Bank N.A. raised its holdings in Tesla by 4.4% in the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after acquiring an additional 38 shares during the period. Holistic Financial Partners boosted its holdings in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after acquiring an additional 40 shares during the period. Sherrill & Hutchins Financial Advisory Inc grew its position in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. lifted its position in shares of Tesla by 0.4% during the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after purchasing an additional 43 shares during the last quarter. Institutional investors 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.