Tesla (TSLA) Upgraded to Buy by Canaccord Genuity

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Canaccord Genuity upgraded shares of Tesla (NASDAQ:TSLA) from a hold rating to a buy rating in a research report report published on Monday, Marketbeat Ratings reports. Canaccord Genuity currently has $450.00 price target on the electric vehicle producer’s stock, up from their previous price target of $330.00.

Several other brokerages also recently weighed in on TSLA. Cowen set a $200.00 price objective on shares of Tesla and gave the stock a sell rating in a research report on Friday, January 18th. Bank of America set a $225.00 price objective on Tesla and gave the company a sell rating in a research note on Friday, January 18th. CIBC restated an outperform rating and set a $437.00 target price (up previously from $418.00) on shares of Tesla in a research report on Thursday, January 31st. ValuEngine cut Tesla from a strong-buy rating to a buy rating in a research report on Saturday, January 19th. Finally, Jefferies Financial Group set a $450.00 price objective on Tesla and gave the company a buy rating in a report on Thursday, January 31st. Fourteen equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company. Tesla has a consensus rating of Hold and a consensus price target of $328.46.

TSLA stock opened at $308.17 on Monday. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.81 and a quick ratio of 0.47. The stock has a market cap of $52.52 billion, a price-to-earnings ratio of -53.88, a P/E/G ratio of 4.61 and a beta of 0.56. Tesla has a 52-week low of $244.59 and a 52-week high of $387.46.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.93. Tesla had a negative net margin of 4.55% and a negative return on equity of 19.08%. The company had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter last year, the company posted ($3.04) earnings per share. The firm’s quarterly revenue was up 119.8% on a year-over-year basis. On average, analysts forecast that Tesla will post 1.89 EPS for the current year.

In related news, Director Antonio J. Gracias sold 8,390 shares of the stock in a transaction dated Friday, December 21st. The shares were sold at an average price of $317.58, for a total value of $2,664,496.20. Following the sale, the director now directly owns 24,332 shares of the company’s stock, valued at approximately $7,727,356.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jerome M. Guillen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $360.28, for a total transaction of $360,280.00. Following the completion of the sale, the insider now owns 8,598 shares of the company’s stock, valued at $3,097,687.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,570 shares of company stock valued at $24,744,248. Company insiders own 22.80% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Tesla by 0.8% in the third quarter. Vanguard Group Inc. now owns 7,036,426 shares of the electric vehicle producer’s stock worth $1,863,034,000 after acquiring an additional 59,018 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Tesla by 0.8% in the third quarter. Vanguard Group Inc now owns 7,036,426 shares of the electric vehicle producer’s stock valued at $1,863,034,000 after acquiring an additional 59,018 shares during the period. Capital World Investors increased its stake in shares of Tesla by 11.9% in the third quarter. Capital World Investors now owns 6,817,290 shares of the electric vehicle producer’s stock valued at $1,805,014,000 after buying an additional 726,703 shares in the last quarter. Jennison Associates LLC boosted its holdings in Tesla by 10.5% during the fourth quarter. Jennison Associates LLC now owns 5,322,358 shares of the electric vehicle producer’s stock worth $1,771,281,000 after buying an additional 505,076 shares during the last quarter. Finally, Primecap Management Co. CA raised its position in Tesla by 1.0% in the 3rd quarter. Primecap Management Co. CA now owns 1,106,015 shares of the electric vehicle producer’s stock valued at $292,840,000 after buying an additional 10,900 shares during the last quarter. 56.94% of the stock is currently owned by institutional investors.

Tesla Company Profile

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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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