Tesla Motors Inc. (TSLA) Upgraded to “Buy” by Vetr Inc.
Vetr upgraded shares of Tesla Motors Inc. (NASDAQ:TSLA) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $211.43 price target on the electric vehicle producer’s stock.
TSLA has been the subject of several other reports. Royal Bank Of Canada reiterated a hold rating on shares of Tesla Motors in a report on Saturday, July 9th. Pacific Crest reiterated a sector weight rating on shares of Tesla Motors in a report on Wednesday, June 22nd. Morgan Stanley reiterated an equal weight rating and issued a $245.00 price objective on shares of Tesla Motors in a report on Wednesday, August 3rd. Robert W. Baird reiterated an outperform rating and issued a $338.00 price objective on shares of Tesla Motors in a report on Wednesday, June 22nd. Finally, Oppenheimer Holdings Inc. cut shares of Tesla Motors from an outperform rating to a market perform rating and decreased their price objective for the company from $264.75 to $195.00 in a report on Wednesday, June 22nd. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $246.30.
Shares of Tesla Motors (NASDAQ:TSLA) opened at 201.51 on Wednesday. The firm has a 50-day moving average price of $205.24 and a 200-day moving average price of $221.12. The stock’s market cap is $29.96 billion. Tesla Motors has a one year low of $141.05 and a one year high of $269.34.
Tesla Motors (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) EPS for the quarter, missing the 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 the consensus estimate of $1.67 billion. During the same period last year, the business earned ($0.48) EPS. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. Analysts anticipate that Tesla Motors will post ($0.93) earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Capstone Asset Management Co. raised its stake in shares of Tesla Motors by 3.0% in the third quarter. Capstone Asset Management Co. now owns 2,669 shares of the electric vehicle producer’s stock worth $545,000 after buying an additional 77 shares during the period. Daiwa SB Investments Ltd. bought a new position in Tesla Motors during the third quarter valued at approximately $1,000,000. British Columbia Investment Management Corp raised its position in Tesla Motors by 0.6% in the third quarter. British Columbia Investment Management Corp now owns 50,944 shares of the electric vehicle producer’s stock valued at $10,394,000 after buying an additional 311 shares during the last quarter. Advisory Services Network LLC raised 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 valued at $100,000 after buying an additional 62 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its position in Tesla Motors by 4.7% in the third quarter. Eqis Capital Management Inc. now owns 2,242 shares of the electric vehicle producer’s stock valued at $457,000 after buying an additional 100 shares during the last quarter. 66.62% of the stock is owned by institutional investors and hedge funds.
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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