Tesla (NASDAQ:TSLA) Coverage Initiated by Analysts at BNP Paribas Exane

Key Points

• BNP Paribas Exane initiated coverage on Tesla (NASDAQ:TSLA) with an "underperform" rating and a price target of $307.00, indicating a potential downside of 29.45% from its last close.
• Other analysts have mixed views: TD Cowen raised their price target to $509.00 with a "buy" rating, while Benchmark also reiterated a "buy" rating with a target of $475.00.
• Tesla's stock has experienced significant fluctuations, with a 12-month low of $212.11 and a high of $488.54, while analysts forecast an earnings per share of 2.56 for the current fiscal year.

Analysts at BNP Paribas Exane began coverage on shares of Tesla (NASDAQ:TSLA - Get Free Report) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage set an "underperform" rating and a $307.00 price target on the electric vehicle producer's stock. BNP Paribas Exane's target price would suggest a potential downside of 29.45% from the stock's previous close.

Several other research analysts also recently weighed in on TSLA. TD Cowen boosted their price target on Tesla from $374.00 to $509.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Benchmark reiterated a "buy" rating and issued a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tesla in a report on Wednesday, October 8th. Finally, Mizuho boosted their price target on Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $361.51.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $435.15 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla has a 12 month low of $212.11 and a 12 month high of $488.54. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 251.53, a price-to-earnings-growth ratio of 15.47 and a beta of 2.08. The business's 50 day simple moving average is $383.21 and its 200-day simple moving average is $330.90.

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

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company's stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chapman Financial Group LLC bought a new position 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 second quarter worth about $29,000. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% during the first 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 last quarter. First PREMIER Bank lifted its position in shares of Tesla by 79.2% during the first 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 last quarter. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the second quarter worth about $30,000. 66.20% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.