Tesla (NASDAQ:TSLA) Given a $325.00 Price Target at Sanford C. Bernstein

Sanford C. Bernstein set a $325.00 price objective on Tesla (NASDAQ:TSLA) in a research report sent to investors on Wednesday morning, TipRanks reports. The brokerage currently has a hold rating on the electric vehicle producer’s stock.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity dropped their target price on shares of Tesla from $394.00 to $350.00 and set a buy rating for the company in a report on Thursday, July 25th. Jefferies Financial Group set a $300.00 target price on shares of Tesla and gave the stock a buy rating in a report on Friday, June 21st. Oppenheimer dropped their target price on shares of Tesla from $437.00 to $356.00 and set an outperform rating for the company in a report on Thursday, July 25th. Robert W. Baird dropped their target price on shares of Tesla from $400.00 to $340.00 and set an outperform rating for the company in a report on Tuesday, May 21st. Finally, Needham & Company LLC reissued a sell rating on shares of Tesla in a report on Sunday, July 7th. Eighteen investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $269.53.

Tesla stock opened at $211.40 on Wednesday. Tesla has a 52-week low of $176.99 and a 52-week high of $379.49. The firm has a market capitalization of $39.56 billion, a price-to-earnings ratio of -36.96 and a beta of 0.60. The company has a fifty day simple moving average of $236.14 and a 200-day simple moving average of $249.68. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 1.71.



Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.55) by ($0.76). Tesla had a negative return on equity of 11.42% and a negative net margin of 2.64%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the previous year, the company earned ($3.06) EPS. Tesla’s quarterly revenue was up 58.7% compared to the same quarter last year. On average, research analysts anticipate that Tesla will post -7.51 EPS for the current fiscal year.

In other Tesla news, CFO Zachary Kirkhorn sold 150 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $255.68, for a total transaction of $38,352.00. Following the completion of the transaction, the chief financial officer now owns 9,962 shares of the company’s stock, valued at $2,547,084.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Antonio J. Gracias sold 33,766 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $180.35, for a total transaction of $6,089,698.10. Following the transaction, the director now directly owns 14,232 shares of the company’s stock, valued at approximately $2,566,741.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,066 shares of company stock valued at $15,819,400. 24.40% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Mackey Komara & Dankovich LLC boosted its stake in Tesla by 493.3% during the first quarter. Mackey Komara & Dankovich LLC now owns 89 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 74 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in shares of Tesla during the first quarter worth about $28,000. Clarus Wealth Advisors lifted its position in shares of Tesla by 83.3% during the second quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Harvest Group Wealth Management LLC acquired a new stake in shares of Tesla during the first quarter worth about $34,000. Finally, Trustcore Financial Services LLC lifted its position in shares of Tesla by 121.8% during the second quarter. Trustcore Financial Services LLC now owns 122 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 67 shares in the last quarter. 54.40% of the stock is owned by institutional investors.

About Tesla

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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