Royal Bank of Canada Analysts Give Tesla (NASDAQ:TSLA) a $190.00 Price Target

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Royal Bank of Canada set a $190.00 price target on Tesla (NASDAQ:TSLA) in a research report report published on Tuesday, TipRanks reports. The firm currently has a sell rating on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. ValuEngine raised shares of Tesla from a hold rating to a buy rating in a research report on Thursday, August 1st. Evercore ISI decreased their price target on shares of Tesla from $240.00 to $200.00 and set an underperform rating on the stock in a research note on Wednesday, May 15th. They noted that the move was a valuation call. Robert W. Baird lowered their price target on shares of Tesla from $400.00 to $340.00 and set an outperform rating on the stock in a research report on Tuesday, May 21st. CIBC dropped their price objective on shares of Tesla from $437.00 to $356.00 and set an outperform rating for the company in a research note on Thursday, July 25th. Finally, Nord/LB reissued a sell rating and issued a $200.00 price objective on shares of Tesla in a report on Thursday, July 25th. Eighteen investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $269.53.

NASDAQ:TSLA traded up $11.56 during mid-day trading on Tuesday, hitting $247.10. 10,006,696 shares of the stock were exchanged, compared to its average volume of 9,269,790. The stock has a market capitalization of $41.52 billion, a price-to-earnings ratio of -43.20 and a beta of 0.54. The firm’s 50-day simple moving average is $227.96 and its 200 day simple moving average is $241.79. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.71 and a current ratio of 1.06. Tesla has a fifty-two week low of $176.99 and a fifty-two week high of $379.49.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.55) by ($0.76). Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the firm earned ($3.06) earnings per share. The business’s revenue for the quarter was up 58.7% compared to the same quarter last year. On average, analysts predict that Tesla will post -7.51 EPS for the current fiscal year.

In other Tesla news, insider Jeffrey B. Straubel sold 15,000 shares of Tesla stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $223.51, for a total value of $3,352,650.00. Following the transaction, the insider now owns 306,098 shares in the company, valued at $68,415,963.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm bought 1,000 shares of the stock in a transaction on Monday, July 29th. The shares were acquired at an average cost of $232.72 per share, with a total value of $232,720.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $232,720. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 30,300 shares of company stock worth $6,881,352. Company insiders own 24.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TSLA. Mizuho Securities Co. Ltd. bought a new position in Tesla in the 1st quarter valued at approximately $28,000. Clarus Wealth Advisors boosted its position in Tesla by 83.3% in the second quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Trustcore Financial Services LLC boosted its position in Tesla by 121.8% in the second quarter. Trustcore Financial Services LLC now owns 122 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 67 shares in the last quarter. Private Capital Group LLC grew its stake in shares of Tesla by 110.3% during the second quarter. Private Capital Group LLC now owns 122 shares of the electric vehicle producer’s stock worth $42,000 after buying an additional 64 shares during the last quarter. Finally, AllSquare Wealth Management LLC bought a new stake in shares of Tesla during the second quarter worth $28,000. Institutional investors own 54.44% of the company’s stock.

Tesla Company Profile

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