Tesla’s (TSLA) Outperform Rating Reiterated at Wedbush

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They currently have a $300.00 price target on the electric vehicle producer’s stock. Wedbush’s price objective suggests a potential upside of 100.09% from the stock’s current price.

Several other research analysts have also recently commented on the company. Mizuho reaffirmed a “neutral” rating and issued a $195.00 target price (down from $270.00) on shares of Tesla in a research report on Monday, March 25th. The Goldman Sachs Group reduced their target price on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Citigroup reduced their target price on Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Redburn Atlantic started coverage on Tesla in a research report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price for the company. Finally, TD Cowen reduced their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Ten research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $194.70.

Tesla Stock Down 3.6 %

TSLA opened at $149.93 on Friday. Tesla has a 1-year low of $148.70 and a 1-year high of $299.29. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $477.50 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 4.11 and a beta of 2.39. The business has a 50 day moving average of $179.45 and a 200-day moving average of $212.21.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the prior year, the company posted $1.07 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla will post 1.97 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last three months. 25.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently modified their holdings of TSLA. Wyrmwood Management LLC bought a new position in shares of Tesla during the 4th quarter valued at about $25,000. Lam Group Inc. bought a new stake in Tesla in the 4th quarter valued at approximately $25,000. Alpha Paradigm Partners LLC bought a new stake in Tesla in the 3rd quarter valued at approximately $27,000. MayTech Global Investments LLC bought a new stake in Tesla in the 4th quarter valued at approximately $30,000. Finally, Mendota Financial Group LLC lifted its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.