Tesla Motors Inc. (TSLA) Cut to “Neutral” at Goldman Sachs Group Inc.
Tesla Motors Inc. (NASDAQ:TSLA) was downgraded by stock analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research report issued on Thursday.
Other research analysts have also issued reports about the company. Oppenheimer Holdings Inc. reissued a “” rating on shares of Tesla Motors in a report on Monday, July 25th. Global Equities Research reissued a “buy” rating and set a $385.00 price target on shares of Tesla Motors in a report on Monday, June 13th. Vetr lowered Tesla Motors from a “strong-buy” rating to a “buy” rating and set a $221.86 price target on the stock. in a report on Tuesday, June 28th. Robert W. Baird reissued a “buy” rating and set a $338.00 price target on shares of Tesla Motors in a report on Monday, August 1st. Finally, Morgan Stanley lowered Tesla Motors from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $333.00 to $245.00 in a report on Thursday, June 23rd. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Tesla Motors currently has a consensus rating of “Hold” and a consensus target price of $248.49.
Tesla Motors (NASDAQ:TSLA) opened at 208.46 on Thursday. The firm’s market cap is $31.00 billion. Tesla Motors has a 52 week low of $141.05 and a 52 week high of $269.34. The company has a 50-day moving average of $208.65 and a 200 day moving average of $222.16.
Tesla Motors (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.55. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. The company earned $1.56 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business earned ($0.48) earnings per share. Tesla Motors’s quarterly revenue was up 30.5% on a year-over-year basis. On average, equities analysts predict that Tesla Motors will post ($0.93) earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in TSLA. Legal & General Group Plc raised its stake in shares of 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 increased its position in shares of 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 during the last quarter. Nisa Investment Advisors LLC increased its position in shares of 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 during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Tesla Motors during the second quarter valued at about $17,650,000. Finally, Southpoint Capital Advisors LP acquired a new position in shares of Tesla Motors during the first quarter valued at about $11,489,000. 66.62% of the stock is currently owned by institutional investors and hedge funds.
Tesla Motors Company Profile
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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