Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Key Points

• Deutsche Bank Aktiengesellschaft raised its target price for Tesla (NASDAQ:TSLA) from $435.00 to $440.00, maintaining a "buy" rating and suggesting a potential upside of 0.23% from its previous close.
• In recent evaluations, Royal Bank of Canada increased its price target for Tesla to $500.00, while multiple other analysts adjusted their price objectives, with mixed ratings ranging from "strong buy" to "sell."
• Tesla reported earnings of $0.50 EPS for the last quarter, surpassing expectations and achieving revenue of $28.10 billion, up 11.6% year-over-year.

Tesla (NASDAQ:TSLA - Get Free Report) had its target price upped by stock analysts at Deutsche Bank Aktiengesellschaft from $435.00 to $440.00 in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage currently has a "buy" rating on the electric vehicle producer's stock. Deutsche Bank Aktiengesellschaft's price objective would suggest a potential upside of 0.23% from the company's previous close.

Several other equities research analysts have also recently weighed in on TSLA. Royal Bank Of Canada raised their price objective on shares of Tesla from $325.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. Truist Financial boosted their price objective on shares of Tesla from $280.00 to $406.00 and gave the stock a "hold" rating in a research report on Thursday. Evercore ISI upped their price objective on Tesla from $235.00 to $300.00 and gave the stock an "in-line" rating in a report on Monday, October 13th. Mizuho lifted their target price on Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a research note on Tuesday, September 23rd. Finally, Barclays reaffirmed a "negative" rating and set a $350.00 price target (up previously from $275.00) on shares of Tesla in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $375.50.

Tesla Trading Down 0.8%

Shares of TSLA opened at $438.97 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.74, a PEG ratio of 15.91 and a beta of 2.08. The stock has a fifty day moving average price of $393.73 and a two-hundred day moving average price of $336.97. Tesla has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $28.10 billion for the quarter, compared to analysts' expectations of $24.98 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business's revenue for the quarter was up 11.6% on a year-over-year basis. Analysts predict that Tesla will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently bought and sold shares of the company. Westend Capital Management LLC acquired a new position in Tesla in the third quarter valued at about $32,000. Chapman Financial Group LLC acquired a new stake in shares of Tesla during the second quarter worth about $26,000. LGT Financial Advisors LLC bought a new position in shares of Tesla during the 2nd quarter valued at about $29,000. CoreFirst Bank & Trust acquired a new position in shares of Tesla in the 2nd quarter valued at approximately $30,000. Finally, ESL Trust Services LLC increased its stake in Tesla by 1,900.0% during the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 95 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.

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