Tesla (NASDAQ:TSLA) Price Target Raised to $480.00

Tesla (NASDAQ:TSLAGet Free Report) had its price objective boosted by investment analysts at Robert W. Baird from $280.00 to $480.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the electric vehicle producer’s stock. Robert W. Baird’s price objective would suggest a potential upside of 0.03% from the stock’s current price.

TSLA has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Royal Bank of Canada lifted their price target on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, Piper Sandler increased their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $272.06.

Read Our Latest Report on TSLA

Tesla Price Performance

Shares of Tesla stock opened at $479.86 on Wednesday. The business has a 50 day moving average of $310.89 and a 200 day moving average of $251.62. Tesla has a 52 week low of $138.80 and a 52 week high of $483.99. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.54 trillion, a PE ratio of 131.47, a P/E/G ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Tesla will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 522,886 shares of company stock worth $171,393,831 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Large investors have recently bought and sold shares of the business. Connable Office Inc. raised its position in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the last quarter. Community Bank N.A. increased its stake in shares of Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after purchasing an additional 38 shares in the last quarter. Holistic Financial Partners increased its position in Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its holdings in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares in the last quarter. Finally, Altman Advisors Inc. grew its holdings in Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

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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.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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