BNP Paribas Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Key Points

• BNP Paribas raised its Tesla price target to $313 from $307, but that target still implies about a 27.29% downside versus the stock's current roughly $430 price.
• The analyst consensus is a "Hold" with a $398.92 target, though analyst views vary widely—from sell ratings to buy calls and individual targets as high as $520—reflecting split sentiment.
• Tesla recently beat quarterly estimates (EPS $0.50 vs. $0.48; revenue $28.1B vs. $24.98B), while insiders sold roughly $33.6M of stock last quarter and institutional investors own about 66.2% of shares.

Tesla (NASDAQ:TSLA - Get Free Report) had its target price increased by equities research analysts at BNP Paribas from $307.00 to $313.00 in a research note issued on Monday,MarketScreener reports. BNP Paribas' price objective would suggest a potential downside of 27.29% from the stock's current price.

TSLA has been the subject of several other research reports. DZ Bank reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, October 23rd. Truist Financial upped their price objective on shares of Tesla from $280.00 to $406.00 and gave the company a "hold" rating in a research report on Thursday, October 23rd. Melius initiated coverage on Tesla in a report on Monday, October 13th. They set a "buy" rating and a $520.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $440.00 to $470.00 and gave the stock a "buy" rating in a report on Monday, November 3rd. Finally, China Renaissance boosted their price objective on Tesla from $349.00 to $380.00 and gave the company a "hold" rating in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $398.92.

Tesla Stock Up 0.1%

NASDAQ:TSLA opened at $430.47 on Monday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla has a 12-month low of $214.25 and a 12-month high of $488.54. The stock's fifty day simple moving average is $433.87 and its 200-day simple moving average is $369.96. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 287.84, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Equities research analysts expect that Tesla will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is owned by insiders.

Institutional Trading of Tesla

Large investors have recently added to or reduced their stakes in the company. Siren L.L.C. bought a new position in Tesla in the first quarter valued at about $2,332,000. Zuckerman Investment Group LLC grew its holdings in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Norges Bank acquired a new position in Tesla during the 2nd quarter worth approximately $11,839,824,000. Police & Firemen s Retirement System of New Jersey lifted its stake in Tesla by 5.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer's stock valued at $135,688,000 after purchasing an additional 22,607 shares during the last quarter. Finally, Keystone Global Partners LLC bought a new stake in shares of Tesla during the first quarter worth $594,000. Institutional investors and hedge funds own 66.20% of the company's stock.

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.

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