Tesla's (TSLA) Outperform Rating Reiterated at Wedbush

Tesla (NASDAQ:TSLA - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Wedbush in a research note issued on Monday, Benzinga reports. They presently have a $275.00 price target on the electric vehicle producer's stock. Wedbush's price objective indicates a potential upside of 41.72% from the company's previous close. Wedbush also issued estimates for Tesla's Q4 2024 earnings at $0.58 EPS, Q2 2025 earnings at $0.70 EPS and Q4 2025 earnings at $0.80 EPS.

Other research analysts also recently issued reports about the company. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a report on Wednesday, April 24th. JPMorgan Chase & Co. dropped their target price on shares of Tesla from $130.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 3rd. Sanford C. Bernstein dropped their price objective on shares of Tesla from $150.00 to $120.00 and set an "underperform" rating for the company in a research report on Tuesday, March 26th. Jefferies Financial Group cut their target price on shares of Tesla from $185.00 to $165.00 and set a "hold" rating on the stock in a research note on Wednesday, April 10th. Finally, HSBC cut their price objective on Tesla from $138.00 to $120.00 and set a "reduce" rating on the stock in a research report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $184.32.

Tesla Price Performance

Tesla stock traded up $25.76 during midday trading on Monday, reaching $194.05. 243,386,278 shares of the company were exchanged, compared to its average volume of 105,090,164. The company has a market capitalization of $618.86 billion, a price-to-earnings ratio of 49.50, a P/E/G ratio of 4.45 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The firm's 50-day simple moving average is $174.92 and its 200-day simple moving average is $206.77. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Xiaotong Zhu sold 687 shares of the company's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company's stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 in the last three months. 20.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Tesla in the fourth quarter valued at about $7,844,757,000. International Assets Investment Management LLC lifted its holdings in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer's stock valued at $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer's stock valued at $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. California Public Employees Retirement System increased its holdings in Tesla by 34.0% in the third quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer's stock worth $2,260,039,000 after buying an additional 2,293,344 shares during the last quarter. Finally, Morgan Stanley raised its position in Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer's stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

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.