Tesla Inc (TSLA) Rating Reiterated by Goldman Sachs Group Inc
Tesla Inc (NASDAQ:TSLA)‘s stock had its “sell” rating reissued by research analysts at Goldman Sachs Group Inc in a research note issued on Friday. They presently have a $187.00 price objective on the electric vehicle producer’s stock, up from their previous price objective of $185.00. Goldman Sachs Group Inc’s price objective points to a potential downside of 28.60% from the company’s current price.
A number of other equities analysts also recently issued reports on TSLA. Robert W. Baird set a $338.00 price target on Tesla and gave the company a “buy” rating in a research note on Saturday, November 19th. Deutsche Bank AG reiterated a “hold” rating and set a $215.00 price target (down previously from $290.00) on shares of Tesla in a research note on Tuesday, December 13th. Vetr downgraded Tesla from a “hold” rating to a “sell” rating and set a $204.81 price target for the company. in a research note on Monday, December 26th. Pacific Crest reiterated an “equal weight” rating on shares of Tesla in a research note on Thursday, February 23rd. Finally, Berenberg Bank reiterated a “hold” rating and set a $193.00 price target on shares of Tesla in a research note on Tuesday, December 13th. Eight analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $254.69.
Tesla (NASDAQ:TSLA) opened at 261.92 on Friday. Tesla has a 1-year low of $178.19 and a 1-year high of $287.39. The firm’s market capitalization is $42.34 billion. The firm has a 50-day moving average price of $258.19 and a 200-day moving average price of $218.53.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, February 22nd. The electric vehicle producer reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.26. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.21 billion. Tesla had a negative net margin of 14.74% and a negative return on equity of 29.17%. Tesla’s revenue for the quarter was up 88.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.87) EPS. Equities analysts expect that Tesla will post ($1.42) earnings per share for the current fiscal year.
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In other news, VP John Douglas Field sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $228.61, for a total transaction of $228,610.00. Following the completion of the transaction, the vice president now directly owns 15,433 shares in the company, valued at approximately $3,528,138.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antonio J. Gracias sold 5,600 shares of the business’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $1,424,864.00. Following the transaction, the director now owns 5,600 shares of the company’s stock, valued at $1,424,864. The disclosure for this sale can be found here. Insiders have sold a total of 14,700 shares of company stock valued at $3,610,196 over the last 90 days. Company insiders own 27.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its position in Tesla 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 during the period. Reilly Financial Advisors LLC raised its position in Tesla by 92.9% in the third quarter. Reilly Financial Advisors LLC now owns 492 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 237 shares during the period. Independent Advisor Alliance purchased a new position in Tesla during the fourth quarter worth approximately $102,000. Parallel Advisors LLC purchased a new position in Tesla during the fourth quarter worth approximately $104,000. Finally, Cable Hill Partners LLC raised its position in Tesla by 36.1% in the third quarter. Cable Hill Partners LLC now owns 693 shares of the electric vehicle producer’s stock worth $139,000 after buying an additional 184 shares during the period. Hedge funds and other institutional investors own 57.29% of the company’s stock.
Tesla Company Profile
Tesla, Inc, formerly 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.
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