Tesla’s (TSLA) Outperform Rating Reaffirmed at Wedbush

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research report issued on Monday, Benzinga reports. They presently have a $275.00 price objective on the electric vehicle producer’s stock. Wedbush’s target price points to a potential upside of 63.41% from the stock’s previous close. Wedbush also issued estimates for Tesla’s Q4 2024 earnings at $0.58 EPS, Q2 2025 earnings at $0.70 EPS and Q4 2025 earnings at $0.80 EPS.

Other equities research analysts have also recently issued research reports about the company. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. UBS Group decreased their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Redburn Atlantic assumed coverage on shares of Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target on the stock. Canaccord Genuity Group decreased their target price on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $185.78.

Tesla Trading Down 1.1 %

Tesla stock opened at $168.29 on Monday. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The stock has a market capitalization of $536.71 billion, a P/E ratio of 42.93, a PEG ratio of 4.45 and a beta of 2.40. The stock has a 50-day simple moving average of $175.04 and a 200 day simple moving average of $207.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is available through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. Insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. increased its holdings in Tesla by 6.4% in the third quarter. YHB Investment Advisors Inc. now owns 1,999 shares of the electric vehicle producer’s stock valued at $500,000 after purchasing an additional 120 shares during the period. RMR Wealth Builders increased its position in Tesla by 32.9% during the 3rd quarter. RMR Wealth Builders now owns 12,650 shares of the electric vehicle producer’s stock valued at $3,165,000 after purchasing an additional 3,135 shares during the period. Sweet Financial Partners LLC raised its holdings in Tesla by 5.9% during the 3rd quarter. Sweet Financial Partners LLC now owns 1,553 shares of the electric vehicle producer’s stock worth $389,000 after purchasing an additional 87 shares during the last quarter. Accurate Wealth Management LLC lifted its position in shares of Tesla by 4.0% in the 3rd quarter. Accurate Wealth Management LLC now owns 34,831 shares of the electric vehicle producer’s stock worth $8,877,000 after purchasing an additional 1,354 shares during the period. Finally, Vicus Capital lifted its holdings in Tesla by 50.6% in the third quarter. Vicus Capital now owns 1,676 shares of the electric vehicle producer’s stock valued at $419,000 after buying an additional 563 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Company Profile

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.