Morgan Stanley Reaffirms “Equal Weight” Rating for Tesla Motors Inc. (TSLA)
Tesla Motors Inc. (NASDAQ:TSLA)‘s stock had its “equal weight” rating restated by stock analysts at Morgan Stanley in a report released on Wednesday. They currently have a $245.00 price objective on the electric vehicle producer’s stock. Morgan Stanley’s price target points to a potential upside of 15.89% from the company’s previous close.
Several other equities research analysts have also commented on the company. RBC Capital Markets set a $210.00 price target on Tesla Motors and gave the stock a “hold” rating in a research note on Thursday, July 21st. Barclays PLC set a $165.00 price target on Tesla Motors and gave the stock a “sell” rating in a research note on Tuesday, July 19th. Vetr downgraded Tesla Motors from a “buy” rating to a “hold” rating and set a $216.16 target price for the company. in a research report on Monday, September 26th. Global Equities Research reaffirmed an “overweight” rating and issued a $385.00 target price on shares of Tesla Motors in a research report on Friday, July 1st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $290.00 target price on shares of Tesla Motors in a research report on Monday, July 25th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $248.49.
Tesla Motors (NASDAQ:TSLA) opened at 211.41 on Wednesday. The firm’s market cap is $31.43 billion. Tesla Motors has a 52-week low of $141.05 and a 52-week high of $269.34. The firm’s 50-day moving average price is $209.08 and its 200 day moving average price is $222.26.
Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.55. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.67 billion. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. The business’s revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.48) earnings per share. On average, equities research analysts forecast that Tesla Motors will post ($0.93) EPS for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in Tesla Motors by 4.1% in the first quarter. Legal & General Group Plc now owns 350,424 shares of the electric vehicle producer’s stock valued at $80,517,000 after buying an additional 13,687 shares in the last quarter. Gabelli Funds LLC boosted its stake in Tesla Motors by 3.9% in the second quarter. Gabelli Funds LLC now owns 15,900 shares of the electric vehicle producer’s stock valued at $3,375,000 after buying an additional 600 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Tesla Motors by 45.9% in the second quarter. Nisa Investment Advisors LLC now owns 5,400 shares of the electric vehicle producer’s stock valued at $1,146,000 after buying an additional 1,700 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Tesla Motors during the second quarter valued at approximately $17,650,000. Finally, Southpoint Capital Advisors LP acquired a new stake in Tesla Motors during the first quarter valued at approximately $11,489,000. Hedge funds and other institutional investors own 66.62% of the company’s stock.
About Tesla Motors
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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