Tesla Motors’ (TSLA) “Equal Weight” Rating Reiterated at Morgan Stanley
Tesla Motors Inc. (NASDAQ:TSLA)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Morgan Stanley in a note issued to investors on Thursday. They currently have a $245.00 price target on the electric vehicle producer’s stock. Morgan Stanley’s price objective points to a potential upside of 22.35% from the company’s previous close.
TSLA has been the topic of a number of other reports. Robert W. Baird set a $338.00 price objective on Tesla Motors and gave the company a “buy” rating in a report on Wednesday, September 28th. Royal Bank Of Canada restated a “sector perform” rating and issued a $242.00 target price on shares of Tesla Motors in a research note on Wednesday, June 22nd. S&P Equity Research upgraded Tesla Motors from a “sell” rating to a “hold” rating and set a $200.00 target price on the stock in a research note on Sunday, July 24th. Oppenheimer Holdings Inc. restated a “” rating on shares of Tesla Motors in a research note on Monday, July 25th. Finally, Vetr upgraded Tesla Motors from a “buy” rating to a “strong-buy” rating and set a $230.20 target price on the stock in a research note on Wednesday, June 22nd. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $246.30.
Tesla Motors (NASDAQ:TSLA) traded down 0.63% during mid-day trading on Thursday, reaching $200.24. The company’s stock had a trading volume of 2,495,413 shares. The company’s market cap is $29.77 billion. The firm’s 50 day moving average is $204.72 and its 200-day moving average is $221.12. Tesla Motors has a 12-month low of $141.05 and a 12-month high of $269.34.
Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.55. The firm earned $1.56 billion during the quarter, compared to analyst estimates of $1.67 billion. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.48) earnings per share. Equities analysts anticipate that Tesla Motors will post ($0.93) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Gulf International Bank UK Ltd raised its position in Tesla Motors by 25.0% in the third quarter. Gulf International Bank UK Ltd now owns 36,136 shares of the electric vehicle producer’s stock worth $7,372,000 after buying an additional 7,225 shares in the last quarter. Capstone Asset Management Co. raised its position in Tesla Motors by 3.0% in the third quarter. Capstone Asset Management Co. now owns 2,669 shares of the electric vehicle producer’s stock worth $545,000 after buying an additional 77 shares in the last quarter. Daiwa SB Investments Ltd. purchased a new position in Tesla Motors during the third quarter worth approximately $1,000,000. British Columbia Investment Management Corp raised its position in Tesla Motors by 0.6% in the third quarter. British Columbia Investment Management Corp now owns 50,944 shares of the electric vehicle producer’s stock worth $10,394,000 after buying an additional 311 shares in the last quarter. Finally, Advisory Services Network LLC raised its position in Tesla Motors by 14.5% in the third quarter. Advisory Services Network LLC now owns 489 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 62 shares in the last quarter. 66.62% of the stock is owned by hedge funds and other institutional investors.
Tesla Motors Company Profile
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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