Tesla (NASDAQ:TSLA) Price Target Raised to $500.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised Tesla's price target from $325.00 to $500.00, suggesting a potential upside of 15.05% from the current stock price.
• Analysts have varied opinions on Tesla's stock, with a consensus rating of "Hold" and an average price target of $354.67.
• Tesla's recent quarterly earnings missed expectations, reporting $0.40 earnings per share on revenue of $22.50 billion, which was down 11.8% year-over-year.

Tesla (NASDAQ:TSLA - Get Free Report) had its price target hoisted by stock analysts at Royal Bank Of Canada from $325.00 to $500.00 in a research report issued on Friday. The firm presently has an "outperform" rating on the electric vehicle producer's stock. Royal Bank Of Canada's target price would suggest a potential upside of 15.05% from the stock's current price.

A number of other brokerages have also commented on TSLA. The Goldman Sachs Group upped their price objective on Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a report on Friday, October 3rd. China Renaissance reaffirmed a "hold" rating and issued a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Dbs Bank upped their target price on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $354.67.

Tesla Stock Down 0.2%

Shares of NASDAQ:TSLA traded down $0.96 during trading on Friday, hitting $434.58. 11,908,523 shares of the company were exchanged, compared to its average volume of 102,279,805. The stock has a market cap of $1.45 trillion, a price-to-earnings ratio of 252.70, a P/E/G ratio of 16.04 and a beta of 2.08. Tesla has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a fifty day moving average price of $373.75 and a two-hundred day moving average price of $326.64. 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 posted its quarterly 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 company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm'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 EPS. As a group, research analysts anticipate that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction 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 $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 SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on 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 represents a 20.91% 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. Company insiders own 19.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chesley Taft & Associates LLC lifted its holdings in shares of Tesla by 0.8% in the third quarter. Chesley Taft & Associates LLC now owns 3,118 shares of the electric vehicle producer's stock valued at $1,387,000 after purchasing an additional 25 shares in the last quarter. Holos Integrated Wealth LLC lifted its holdings in Tesla by 10.8% during the second quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer's stock worth $102,000 after acquiring an additional 30 shares during the period. Dominguez Wealth Management Solutions Inc. lifted its holdings in Tesla by 4.5% during the third quarter. Dominguez Wealth Management Solutions Inc. now owns 704 shares of the electric vehicle producer's stock worth $313,000 after acquiring an additional 30 shares during the period. First Merchants Corp lifted its holdings in Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock worth $767,000 after acquiring an additional 31 shares during the period. Finally, Kaye Capital Management lifted its holdings in Tesla by 3.1% during the second quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer's stock worth $333,000 after acquiring an additional 31 shares during the period. Institutional investors own 66.20% of the company's stock.

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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