Barclays Issues Pessimistic Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA - Free Report) had its target price cut by Barclays from $325.00 to $275.00 in a report issued on Monday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the electric vehicle producer's stock.

A number of other equities research analysts have also recently commented on TSLA. Truist Financial reduced their price objective on Tesla from $373.00 to $280.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Guggenheim decreased their price target on shares of Tesla from $175.00 to $170.00 and set a "sell" rating for the company in a research note on Wednesday, March 12th. Mizuho lowered their price objective on shares of Tesla from $430.00 to $375.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Canaccord Genuity Group reiterated a "buy" rating and set a $404.00 price objective on shares of Tesla in a report on Monday, March 17th. Finally, Piper Sandler lowered their target price on shares of Tesla from $450.00 to $400.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and an average target price of $287.46.

Tesla Stock Up 9.3 %

Shares of Tesla stock traded up $24.15 during trading on Monday, reaching $283.66. 135,438,174 shares of the company traded hands, compared to its average volume of 96,023,349. The firm has a market capitalization of $912.41 billion, a PE ratio of 139.36, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla has a 1-year low of $158.36 and a 1-year high of $488.54. The company has a 50 day moving average price of $265.36 and a 200-day moving average price of $322.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the company earned $0.45 EPS. As a group, equities research analysts expect that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

Institutional investors have recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank increased its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC raised its stake in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the period. True Wealth Design LLC lifted its holdings in shares of Tesla by 79.5% in 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 last quarter. Finally, Horrell Capital Management Inc. boosted its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.