Tesla (NASDAQ:TSLA) Price Target Raised to $275.00 at Evercore ISI

Tesla (NASDAQ:TSLA) had its target price increased by equities researchers at Evercore ISI from $195.00 to $275.00 in a report released on Friday,Benzinga reports. The firm presently has an “in-line” rating on the electric vehicle producer’s stock. Evercore ISI’s price objective suggests a potential downside of 29.21% from the stock’s current price.

TSLA has been the topic of several other reports. Canaccord Genuity Group boosted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Cantor Fitzgerald raised their target price on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley upped their price target on Tesla from $310.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $283.39.

Tesla Price Performance

Shares of TSLA stock traded up $9.21 on Friday, reaching $388.49. The company had a trading volume of 18,179,757 shares, compared to its average volume of 60,376,344. The stock has a market capitalization of $1.25 trillion, a PE ratio of 106.44, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average is $359.54 and its 200 day moving average is $271.59. Tesla has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Tesla will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 514,886 shares of company stock valued at $169,393,831 over the last 90 days. Insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter valued at $29,000. Clean Yield Group raised its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Tesla during the second quarter worth about $26,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Tesla in the third quarter worth about $35,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

About Tesla

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.