Mizuho Forecasts Strong Price Appreciation for Tesla (NASDAQ:TSLA) Stock

Key Points

• Mizuho has increased its target price for Tesla's stock from $375.00 to $450.00, suggesting a potential upside of 3.64% from its current price.
• Analysts have mixed views on Tesla, with ratings ranging from strong buy to sell, highlighting a consensus rating of hold and an average price target of $326.74.
• Insider trading activity saw Director James R. Murdoch selling 120,000 shares at an average price of $350.29, reducing his ownership of the stock by 14.69%.

Tesla (NASDAQ:TSLA - Get Free Report) had its target price increased by equities research analysts at Mizuho from $375.00 to $450.00 in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage presently has an "outperform" rating on the electric vehicle producer's stock. Mizuho's target price would indicate a potential upside of 3.64% from the stock's current price.

A number of other equities research analysts have also weighed in on TSLA. The Goldman Sachs Group boosted their price objective on shares of Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a report on Thursday, September 18th. Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Morgan Stanley restated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Friday, September 5th. Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday. Finally, Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $326.74.

Tesla Stock Performance

NASDAQ:TSLA opened at $434.21 on Tuesday. The stock has a market cap of $1.44 trillion, a P/E ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business's 50-day moving average price is $343.03 and its two-hundred day moving average price is $309.87. Tesla has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. As a group, equities analysts predict that Tesla will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Holos Integrated Wealth LLC increased its stake in Tesla by 10.8% in the 2nd quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer's stock worth $102,000 after buying an additional 30 shares in the last quarter. First Merchants Corp raised its stake in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock valued at $767,000 after acquiring an additional 31 shares during the period. Kaye Capital Management boosted its position in shares of Tesla by 3.1% during the second quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer's stock valued at $333,000 after buying an additional 31 shares during the period. Spectrum Wealth Advisory Group LLC lifted its position in shares of Tesla by 3.4% during the second quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer's stock worth $299,000 after purchasing an additional 31 shares during the last quarter. Finally, Wambolt & Associates LLC grew its stake in Tesla by 1.0% in the second quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer's stock worth $938,000 after purchasing an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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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