Royal Bank Of Canada Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Key Points

• Royal Bank of Canada has raised its price target for Tesla's stock from $319.00 to $325.00, maintaining an "outperform" rating.
• Tesla reported $0.40 EPS last quarter, missing the analysts' consensus estimate of $0.43, with quarterly revenue down by 11.8% year-over-year.
• Despite positive forecasts, ten analysts have rated Tesla's stock as a sell, highlighting a mix of ratings with a consensus of "Hold" and an average target price of $303.31.

Tesla (NASDAQ:TSLA - Get Free Report) had its price target lifted by analysts at Royal Bank Of Canada from $319.00 to $325.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm currently has an "outperform" rating on the electric vehicle producer's stock. Royal Bank Of Canada's target price indicates a potential downside of 0.18% from the company's current price.

Several other research analysts have also commented on TSLA. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Mizuho reduced their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Canaccord Genuity Group increased their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Guggenheim reissued a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Finally, Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Trading Up 3.0%

NASDAQ:TSLA opened at $325.59 on Tuesday. The company has a fifty day moving average of $324.37 and a 200 day moving average of $313.04. Tesla has a 52 week low of $182.00 and a 52 week high of $488.54. 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 firm has a market capitalization of $1.05 trillion, a P/E ratio of 188.20, a P/E/G ratio of 9.93 and a beta of 2.39.

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

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 723,119 shares of company stock worth $247,324,149 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC raised its position in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Navigoe LLC acquired a new stake in shares of Tesla during the 4th quarter worth approximately $37,000. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank raised its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Tesla during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors 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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