Tesla (TSLA) Earns Buy Rating from Analysts at Citigroup

Stock analysts at Citigroup initiated coverage on shares of Tesla (NASDAQ:TSLA) in a report released on Tuesday. The firm set a “buy” rating and a $425.00 price target on the electric vehicle producer’s stock. Citigroup’s target price would indicate a potential upside of 33.88% from the company’s previous close.

A number of other brokerages have also recently issued reports on TSLA. Zacks Investment Research cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Oppenheimer reissued a “hold” rating on shares of Tesla in a research report on Monday, October 16th. BidaskClub raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $200.00 to $195.00 and set an “underweight” rating for the company in a research report on Friday, October 20th. Finally, Piper Jaffray Companies set a $386.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 16th. Thirteen equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $324.52.

Tesla (TSLA) opened at $317.44 on Tuesday. Tesla has a fifty-two week low of $242.01 and a fifty-two week high of $389.61. The company has a market cap of $53,350.00, a price-to-earnings ratio of -26.92 and a beta of 0.97. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.71.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, February 7th. The electric vehicle producer reported ($3.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.12) by $0.08. Tesla had a negative net margin of 16.68% and a negative return on equity of 32.11%. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the company earned ($0.69) earnings per share. The company’s quarterly revenue was up 43.9% on a year-over-year basis. equities research analysts predict that Tesla will post -6.87 EPS for the current year.

In other Tesla news, VP Eric Branderiz sold 1,229 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $312.61, for a total transaction of $384,197.69. Following the completion of the transaction, the vice president now owns 4,808 shares of the company’s stock, valued at $1,503,028.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 4,065 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $312.08, for a total value of $1,268,605.20. Following the transaction, the director now directly owns 154,589 shares of the company’s stock, valued at approximately $48,244,135.12. The disclosure for this sale can be found here. Insiders have sold 10,231 shares of company stock valued at $3,292,431 in the last ninety days. 23.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Carnegie Capital Asset Management LLC raised its stake in Tesla by 70.2% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 7,465 shares of the electric vehicle producer’s stock worth $2,575,000 after acquiring an additional 3,080 shares in the last quarter. Buckingham Asset Management LLC raised its stake in Tesla by 24.8% during the fourth quarter. Buckingham Asset Management LLC now owns 2,122 shares of the electric vehicle producer’s stock worth $661,000 after acquiring an additional 421 shares in the last quarter. ARK Investment Management LLC raised its stake in Tesla by 122.1% during the fourth quarter. ARK Investment Management LLC now owns 140,900 shares of the electric vehicle producer’s stock worth $43,869,000 after acquiring an additional 77,471 shares in the last quarter. Eaton Vance Management raised its stake in Tesla by 131.5% during the fourth quarter. Eaton Vance Management now owns 17,362 shares of the electric vehicle producer’s stock worth $5,406,000 after acquiring an additional 9,862 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in Tesla by 9.0% during the fourth quarter. Pinnacle Associates Ltd. now owns 2,624 shares of the electric vehicle producer’s stock worth $817,000 after acquiring an additional 217 shares in the last quarter. 57.49% of the stock is owned by hedge funds and other institutional investors.

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Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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