Tesla (TSLA) Price Target Cut to $376.00

Tesla (NASDAQ:TSLA) had its price target lowered by analysts at Morgan Stanley from $379.00 to $376.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “equal weight” rating on the electric vehicle producer’s stock. Morgan Stanley’s target price suggests a potential upside of 30.70% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Tesla from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. UBS set a $195.00 price target on Tesla and gave the company a “sell” rating in a research note on Friday, February 9th. Vetr raised Tesla from a “hold” rating to a “buy” rating and set a $339.63 price target for the company in a research note on Monday, February 12th. JPMorgan Chase set a $190.00 price target on Tesla and gave the company a “sell” rating in a research note on Thursday, February 8th. Finally, KeyCorp reissued a “hold” rating on shares of Tesla in a research note on Thursday, January 4th. Thirteen analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $304.33.

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Shares of TSLA stock opened at $287.69 on Wednesday. The stock has a market capitalization of $49,191.16, a PE ratio of -25.06 and a beta of 1.19. The company has a quick ratio of 0.56, a current ratio of 0.86 and a debt-to-equity ratio of 1.80. Tesla has a 1-year low of $244.59 and a 1-year high of $389.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share for the quarter, beating the consensus estimate of ($3.12) by $0.08. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Tesla had a negative return on equity of 33.08% and a negative net margin of 16.68%. The business’s quarterly revenue was up 43.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.69) earnings per share. research analysts predict that Tesla will post -15.15 earnings per share for the current year.

In other Tesla news, VP Eric Branderiz sold 801 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total value of $284,018.58. Following the transaction, the vice president now owns 1,287 shares in the company, valued at $456,344.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John Douglas Field sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $330.06, for a total value of $330,060.00. Following the completion of the transaction, the vice president now owns 19,028 shares in the company, valued at approximately $6,280,381.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,529 shares of company stock worth $1,786,841. 23.10% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its holdings in Tesla by 20.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 895 shares of the electric vehicle producer’s stock worth $279,000 after acquiring an additional 155 shares in the last quarter. Catawba Capital Management VA boosted its holdings in Tesla by 6.0% in the fourth quarter. Catawba Capital Management VA now owns 2,935 shares of the electric vehicle producer’s stock worth $914,000 after acquiring an additional 165 shares in the last quarter. Essex Financial Services Inc. boosted its holdings in Tesla by 4.9% in the fourth quarter. Essex Financial Services Inc. now owns 3,549 shares of the electric vehicle producer’s stock worth $1,105,000 after acquiring an additional 165 shares in the last quarter. Hartland & Co. LLC boosted its holdings in Tesla by 11.2% in the fourth quarter. Hartland & Co. LLC now owns 1,712 shares of the electric vehicle producer’s stock worth $533,000 after acquiring an additional 173 shares in the last quarter. Finally, Vantage Investment Advisors LLC boosted its holdings in Tesla by 8.8% in the fourth quarter. Vantage Investment Advisors LLC now owns 2,170 shares of the electric vehicle producer’s stock worth $676,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 58.19% of the company’s stock.

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About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, 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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