Tesla (NASDAQ:TSLA) Price Target Raised to $450.00 at Dbs Bank

Key Points

• Dbs Bank has raised its price target for Tesla from $300 to $450, indicating a potential upside of 7.13% from the current stock price.
• Several other analysts have also updated their ratings, with Benchmark setting a price target of $475 and Piper Sandler at $400, showcasing a generally positive outlook from the analyst community.
• Tesla reported a quarterly earnings per share (EPS) of $0.40, missing estimates, alongside a revenue of $22.50 billion, reflecting a decline of 11.8% year-over-year.

Tesla (NASDAQ:TSLA - Get Free Report) had its price objective increased by Dbs Bank from $300.00 to $450.00 in a note issued to investors on Wednesday,MarketScreener reports. Dbs Bank's price target suggests a potential upside of 7.13% from the stock's current price.

A number of other research analysts have also recently issued reports on the stock. Benchmark restated a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Piper Sandler restated an "overweight" rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. UBS Group set a $290.00 price objective on shares of Tesla in a report on Monday, June 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price objective on shares of Tesla in a report on Friday, September 5th. Finally, Canaccord Genuity Group upped their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $307.46.

Tesla Stock Performance

TSLA traded down $1.58 on Wednesday, hitting $420.04. 51,145,954 shares of the company's stock were exchanged, compared to its average volume of 103,227,422. The stock has a fifty day moving average of $333.69 and a two-hundred day moving average of $305.35. Tesla has a twelve month low of $212.11 and a twelve month high of $488.54. The firm has a market cap of $1.35 trillion, a PE ratio of 242.49, a P/E/G ratio of 14.30 and a beta of 2.06. 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 (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during 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%. The firm's revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. On average, research analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,606 shares of company stock worth $51,999,662 over the last quarter. Company insiders own 20.70% of the company's stock.

Institutional Trading of Tesla

Large investors have recently made changes to their positions in the company. Chapman Financial Group LLC purchased a new stake in Tesla in the 2nd quarter valued at $26,000. LGT Financial Advisors LLC acquired a new position in shares of Tesla in the 2nd quarter valued at $29,000. Cherry Tree Wealth Management LLC lifted its stake in shares of 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 lifted its stake in shares of Tesla by 79.2% in the 1st 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. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla in the 2nd quarter valued at $30,000. 66.20% of the stock is currently 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.

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