Tesla (NASDAQ:TSLA) Earns Outperform Rating from Robert W. Baird

Robert W. Baird reaffirmed their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Wednesday, Benzinga reports. Robert W. Baird currently has a $280.00 price objective on the electric vehicle producer’s stock.

TSLA has been the topic of a number of other reports. Daiwa Capital Markets downgraded shares of Tesla from an outperform rating to a neutral rating and lowered their price objective for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. TD Cowen lowered their price objective on shares of Tesla from $200.00 to $180.00 and set a market perform rating on the stock in a research report on Thursday, January 25th. Truist Financial decreased their target price on shares of Tesla from $193.00 to $176.00 and set a hold rating for the company in a research report on Wednesday, April 3rd. Jefferies Financial Group decreased their target price on shares of Tesla from $185.00 to $165.00 and set a hold rating for the company in a research report on Wednesday, April 10th. Finally, Morgan Stanley decreased their target price on shares of Tesla from $320.00 to $310.00 and set an overweight rating for the company in a research report on Thursday, April 4th. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of Hold and a consensus price target of $194.70.

Tesla Stock Performance

Tesla stock opened at $147.05 on Wednesday. The firm’s 50 day simple moving average is $178.51 and its 200-day simple moving average is $211.48. The company has a market cap of $468.32 billion, a P/E ratio of 34.12, a price-to-earnings-growth ratio of 4.11 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla has a fifty-two week low of $146.22 and a fifty-two week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities research analysts predict that Tesla will post 1.97 EPS for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the company. Wyrmwood Management LLC bought a new stake in shares of Tesla in the 4th quarter worth about $25,000. Lam Group Inc. bought a new stake in shares of Tesla in the 4th quarter worth about $25,000. Alpha Paradigm Partners LLC bought a new stake in shares of Tesla in the 3rd quarter worth about $27,000. MayTech Global Investments LLC bought a new stake in shares of Tesla in the 4th quarter worth about $30,000. Finally, Perkins Coie Trust Co grew its holdings in shares of Tesla by 72.0% in the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.