Tesla (NASDAQ:TSLA) Reaches New 1-Year High on Analyst Upgrade
Tesla Inc (NASDAQ:TSLA) shares reached a new 52-week high during mid-day trading on Tuesday after JMP Securities raised their price target on the stock from $1,001.00 to $1,050.00. JMP Securities currently has an outperform rating on the stock. Tesla traded as high as $1,039.44 and last traded at $1,039.27, with a volume of 1733868 shares traded. The stock had previously closed at $1,009.35.
Several other research firms also recently commented on TSLA. Sanford C. Bernstein reiterated a “hold” rating and issued a $500.00 price objective on shares of Tesla in a report on Tuesday, May 12th. Cfra upgraded Tesla to a “hold” rating in a report on Tuesday, March 17th. UBS Group reiterated a “neutral” rating and issued a $800.00 price objective on shares of Tesla in a report on Tuesday. Daiwa Capital Markets initiated coverage on Tesla in a report on Friday, May 29th. They issued an “outperform” rating and a $910.00 price objective for the company. Finally, Wedbush lifted their price objective on Tesla from $800.00 to $1,000.00 and gave the stock a “neutral” rating in a report on Wednesday, June 10th. Eleven analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $622.06.
In other news, SVP Andrew D. Baglino sold 300 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $623.63, for a total transaction of $187,089.00. Following the transaction, the senior vice president now owns 4,445 shares of the company’s stock, valued at approximately $2,772,035.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Zachary Kirkhorn sold 150 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $772.92, for a total value of $115,938.00. Following the transaction, the chief financial officer now directly owns 11,282 shares in the company, valued at approximately $8,720,083.44. The disclosure for this sale can be found here. Insiders have sold a total of 18,198 shares of company stock worth $15,698,572 over the last ninety days. Insiders own 23.00% of the company’s stock.
The business has a 50 day moving average of $891.72 and a two-hundred day moving average of $673.16. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.87 and a current ratio of 1.24. The stock has a market capitalization of $187.10 billion, a PE ratio of -1,134.10 and a beta of 1.14.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, April 29th. The electric vehicle producer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $1.60. Tesla had a negative return on equity of 1.86% and a negative net margin of 0.55%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the business posted ($2.90) earnings per share. The firm’s revenue was up 31.8% compared to the same quarter last year. On average, equities analysts expect that Tesla Inc will post -0.56 EPS for the current fiscal year.
About Tesla (NASDAQ:TSLA)
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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