Tesla (NASDAQ:TSLA) Price Target Raised to $130.00

Tesla (NASDAQ:TSLAGet Free Report) had its price target increased by investment analysts at HSBC from $120.00 to $130.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. HSBC’s price target suggests a potential downside of 51.29% from the company’s previous close.

TSLA has been the subject of several other research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 target price on shares of Tesla in a research note on Monday, July 1st. Mizuho reduced their price objective on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Evercore ISI reduced their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, April 29th. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Wednesday, April 17th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $162.00 target price on shares of Tesla in a report on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $195.39.

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Tesla Price Performance

Shares of Tesla stock traded up $4.53 on Wednesday, hitting $266.86. 99,588,797 shares of the company were exchanged, compared to its average volume of 98,418,344. The stock has a market capitalization of $851.07 billion, a price-to-earnings ratio of 67.65, a price-to-earnings-growth ratio of 6.27 and a beta of 2.31. The company has a 50-day moving average price of $188.52 and a 200 day moving average price of $190.90. Tesla has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. As a group, sell-side analysts predict that Tesla will post 1.86 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Wyrmwood Management LLC bought a new stake in shares of Tesla in the fourth quarter worth $25,000. Lam Group Inc. acquired a new position in shares of Tesla in the fourth quarter valued at about $25,000. Bank & Trust Co acquired a new position in shares of Tesla in the second quarter valued at about $25,000. Mendota Financial Group LLC grew its stake in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

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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.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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