Tesla Motors Inc. (TSLA) Price Target Cut to $242.00 by Analysts at Morgan Stanley
Tesla Motors Inc. (NASDAQ:TSLA) had its price objective cut by Morgan Stanley from $245.00 to $242.00 in a research note published on Wednesday morning. Morgan Stanley’s price objective points to a potential upside of 23.06% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. Robert W. Baird reiterated a buy rating and issued a $338.00 target price on shares of Tesla Motors in a research report on Monday, August 1st. Vetr lowered shares of Tesla Motors from a hold rating to a sell rating and set a $227.49 target price for the company. in a research report on Monday, August 1st. Oppenheimer Holdings Inc. reiterated a market perform rating on shares of Tesla Motors in a research report on Friday, August 5th. FBN Securities increased their target price on shares of Tesla Motors from $260.00 to $275.00 and gave the company an outperform rating in a research report on Thursday, August 4th. Finally, Global Equities Research reiterated an overweight rating and issued a $385.00 target price on shares of Tesla Motors in a research report on Tuesday, October 4th. Eight equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. Tesla Motors has an average rating of Hold and a consensus price target of $241.79.
Tesla Motors (NASDAQ:TSLA) remained flat at $193.14 during trading on Wednesday. 4,891,893 shares of the company traded hands. The stock’s market cap is $28.95 billion. The firm has a 50-day moving average of $194.74 and a 200-day moving average of $210.35. Tesla Motors has a 12 month low of $141.05 and a 12 month high of $269.34.
Tesla Motors (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 26th. The electric vehicle producer reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $1.25. Tesla Motors had a negative net margin of 14.74% and a negative return on equity of 29.17%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the company earned ($0.58) EPS. The company’s revenue for the quarter was up 145.3% compared to the same quarter last year. Analysts expect that Tesla Motors will post ($2.04) earnings per share for the current fiscal year.
In other news, Director Kimbal Musk sold 2,779 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $197.60, for a total transaction of $549,130.40. Following the sale, the director now directly owns 154,644 shares of the company’s stock, valued at approximately $30,557,654.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 27.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TSLA. D. Scott Neal Inc. raised its stake 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 during the period. Catawba Capital Management VA raised its stake in Tesla Motors by 17.7% in the second quarter. Catawba Capital Management VA now owns 2,660 shares of the electric vehicle producer’s stock valued at $565,000 after buying an additional 400 shares during the period. Trust Co. of Vermont raised its stake 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 during the period. Nisa Investment Advisors LLC raised 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 during the period. Finally, Eqis Capital Management Inc. raised its stake in Tesla Motors by 5.1% in the second quarter. Eqis Capital Management Inc. now owns 2,142 shares of the electric vehicle producer’s stock valued at $455,000 after buying an additional 104 shares during the period. 64.36% of the stock is currently owned by institutional investors.
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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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