Tesla (NASDAQ:TSLA) Price Target Lowered to $235.00 at Evercore ISI

Key Points

• Tesla's price target was cut by Evercore ISI from $300 to $235, indicating a potential downside of 46.88% from its previous close.
• The stock currently has a consensus rating of "Hold" with a consensus price target of $380.03 from various analysts.
• Despite the price target reduction, Tesla reported quarterly earnings of $0.50 per share, which beat analysts' expectations and demonstrated an 11.6% increase in revenue compared to the previous year.

Tesla (NASDAQ:TSLA - Get Free Report) had its price objective dropped by stock analysts at Evercore ISI from $300.00 to $235.00 in a research note issued to investors on Friday,MarketScreener reports. Evercore ISI's price target indicates a potential downside of 46.88% from the stock's previous close.

Other analysts also recently issued research reports about the stock. CICC Research boosted their price objective on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a report on Thursday, September 18th. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the stock a "buy" rating in a report on Wednesday, October 8th. Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. BNP Paribas Exane assumed coverage on shares of Tesla in a report on Thursday, October 16th. They set an "underperform" rating and a $307.00 price target for the company. Finally, DZ Bank reaffirmed a "sell" rating on shares of Tesla in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $380.03.

Tesla Stock Down 1.5%

Shares of TSLA opened at $442.38 on Friday. 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 firm has a market cap of $1.47 trillion, a P/E ratio of 294.47, a price-to-earnings-growth ratio of 15.78 and a beta of 2.08. Tesla has a 52 week low of $214.25 and a 52 week high of $488.54. The firm's 50-day simple moving average is $396.00 and its 200 day simple moving average is $338.45.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.72%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, analysts forecast that Tesla will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm'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 transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Chapman Financial Group LLC bought a new stake in shares of Tesla in the 2nd quarter worth approximately $26,000. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter valued at $27,000. Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares during the period. Centennial Bank AR grew its position in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after buying an additional 100 shares during the period. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Tesla in the 2nd quarter worth about $29,000. 66.20% of the stock is owned by 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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