Tesla (NASDAQ:TSLA) Price Target Raised to $435.00 at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank raised its price target on Tesla shares from $345.00 to $435.00, maintaining a "buy" rating, indicating a potential upside of 2.74% from its previous close.
• Other analysts have also increased their price targets for Tesla, with Mizuho setting it at $450.00 and Piper Sandler at $500.00, while the consensus target price is currently $332.33.
• Tesla experienced a 4.4% decline in its stock price recently, with earnings for the last quarter falling short of analysts' expectations at $0.40 per share compared to the consensus of $0.43.

Tesla (NASDAQ:TSLA - Get Free Report) had its price objective boosted by stock analysts at Deutsche Bank Aktiengesellschaft from $345.00 to $435.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the electric vehicle producer's stock. Deutsche Bank Aktiengesellschaft's price target would suggest a potential upside of 2.74% from the stock's previous close.

TSLA has been the topic of several other reports. Mizuho increased their target price on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday. Piper Sandler raised their price objective on Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a report on Monday. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $332.33.

Tesla Trading Down 4.4%

Shares of NASDAQ:TSLA opened at $423.39 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla has a 12-month low of $212.11 and a 12-month high of $488.54. The business has a 50 day moving average of $349.83 and a two-hundred day moving average of $312.97. The company has a market capitalization of $1.41 trillion, a PE ratio of 244.73, a PEG ratio of 15.45 and a beta of 2.06.

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). 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 analysts' expectations of $23.18 billion. During the same period last year, the firm earned $0.52 earnings per share. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, analysts forecast that Tesla will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was 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 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 can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This trade represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. Corporate insiders own 19.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. 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 valued at $25,000 after buying an additional 42 shares during the period. Chapman Financial Group LLC acquired a new position in Tesla in the second quarter valued at approximately $26,000. Newton One Investments LLC increased 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 last quarter. Finally, Arcadia Investment Management Corp MI purchased a new stake in Tesla in the first quarter valued at $27,000. 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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