Tesla Motors Inc. (TSLA) Rating Increased to Buy at Vetr Inc.
Tesla Motors Inc. (NASDAQ:TSLA) was upgraded by Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $212.01 price objective on the electric vehicle producer’s stock. Vetr‘s price objective would indicate a potential upside of 7.83% from the stock’s current price.
A number of other research analysts have also recently issued reports on TSLA. Zacks Investment Research cut shares of Tesla Motors from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Piper Jaffray Cos. initiated coverage on shares of Tesla Motors in a report on Thursday, June 9th. They set a “neutral” rating and a $223.00 price objective for the company. Pacific Crest restated a “hold” rating and set a $212.00 price objective on shares of Tesla Motors in a report on Monday, June 13th. Global Equities Research reaffirmed a “buy” rating and issued a $385.00 price target on shares of Tesla Motors in a research note on Monday, June 13th. Finally, Oppenheimer Holdings Inc. lowered shares of Tesla Motors from an “outperform” rating to a “market perform” rating and cut their price target for the company from $264.75 to $195.00 in a research note on Wednesday, June 22nd. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $246.32.
Tesla Motors (NASDAQ:TSLA) opened at 196.61 on Thursday. The firm’s market capitalization is $29.23 billion. Tesla Motors has a 1-year low of $141.05 and a 1-year high of $269.34. The company has a 50-day moving average of $207.24 and a 200-day moving average of $221.71.
Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing the Zacks’ 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 net margin of 24.64% and a negative return on equity of 46.30%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.48) EPS. On average, equities analysts predict that Tesla Motors will post ($0.93) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its position in Tesla Motors by 14.5% in the third quarter. Advisory Services Network LLC now owns 489 shares of the electric vehicle producer’s stock worth $100,000 after buying an additional 62 shares during the period. Proficio Capital Partners LLC boosted its position in Tesla Motors by 56.1% in the second quarter. Proficio Capital Partners LLC now owns 501 shares of the electric vehicle producer’s stock worth $116,000 after buying an additional 180 shares during the period. Trust Co. of Vermont increased its position in Tesla Motors by 21.6% in the second quarter. Trust Co. of Vermont now owns 535 shares of the electric vehicle producer’s stock valued at $114,000 after buying an additional 95 shares in the last quarter. Toronto Dominion Bank increased its position in Tesla Motors by 171.5% in the second quarter. Toronto Dominion Bank now owns 544 shares of the electric vehicle producer’s stock valued at $115,000 after buying an additional 1,305 shares in the last quarter. Finally, D. Scott Neal Inc. increased its position in Tesla Motors by 21.3% in the second quarter. D. Scott Neal Inc. now owns 570 shares of the electric vehicle producer’s stock valued at $121,000 after buying an additional 100 shares in the last quarter. 66.62% of the stock is owned by hedge funds and other institutional investors.
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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