Tesla (NASDAQ:TSLA) Price Target Raised to $300.00 at Evercore ISI

Key Points

• Evercore ISI raised its price target for Tesla from $235.00 to $300.00, indicating potential downside given the stock's previous close.
• Analyst ratings for Tesla vary, with two analysts giving a Strong Buy rating and others setting targets ranging from $333.00 to $520.00.
• Tesla reported earnings of $0.40 per share, missing estimates, and saw an 11.8% decline in revenue compared to the same quarter last year.

Tesla (NASDAQ:TSLA - Get Free Report) had its target price lifted by analysts at Evercore ISI from $235.00 to $300.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the electric vehicle producer's stock. Evercore ISI's target price points to a potential downside of 27.45% from the stock's previous close.

Several other equities research analysts have also commented on the stock. Canaccord Genuity Group boosted their price target on shares of Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Glj Research reissued a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the stock a "buy" rating in a report on Wednesday. Melius Research set a $520.00 price target on shares of Tesla in a report on Monday. Finally, Mizuho boosted their price target on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $360.27.

Tesla Price Performance

NASDAQ:TSLA opened at $413.49 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08. The company has a 50 day moving average price of $375.97 and a 200-day moving average price of $328.28. Tesla has a 1-year low of $212.11 and a 1-year high of $488.54.

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

Insider Activity at Tesla

In related news, 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 value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the company'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 completion of the sale, the director directly owned 637,031 shares of the company's stock, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Chesley Taft & Associates LLC increased its holdings in Tesla by 0.8% in the 3rd quarter. Chesley Taft & Associates LLC now owns 3,118 shares of the electric vehicle producer's stock valued at $1,387,000 after buying an additional 25 shares during the period. Holos Integrated Wealth LLC boosted its stake in shares of Tesla by 10.8% in the 2nd quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer's stock valued at $102,000 after purchasing an additional 30 shares in the last quarter. Dominguez Wealth Management Solutions Inc. boosted its stake in shares of Tesla by 4.5% in the 3rd quarter. Dominguez Wealth Management Solutions Inc. now owns 704 shares of the electric vehicle producer's stock valued at $313,000 after purchasing an additional 30 shares in the last quarter. First Merchants Corp boosted its stake in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock valued at $767,000 after purchasing an additional 31 shares in the last quarter. Finally, Kaye Capital Management boosted its stake in shares of Tesla by 3.1% in the 2nd quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer's stock valued at $333,000 after purchasing an additional 31 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.

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