Tesla (NASDAQ:TSLA) Announces Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Tesla (NASDAQ:TSLA) released its quarterly earnings results on Wednesday. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14, Briefing.com reports. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS.

Tesla Stock Up 3.3 %

Tesla stock opened at $269.19 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market cap of $858.50 billion, a PE ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The firm’s 50-day simple moving average is $229.47 and its 200 day simple moving average is $206.79.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TSLA. Robert W. Baird reissued an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Mizuho lifted their target price on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Piper Sandler boosted their price objective on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Guggenheim upped their target price on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $219.00.

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.