Stifel Nicolaus reaffirmed their hold rating on shares of Tesla Motors (NASDAQ:TSLA) in a research note issued to investors on Wednesday, American Banking News reports.
“We view TSLA as an exceptional start-up luxury auto manufacturer. We believe a longer-term investment strategy exists for such an endeavor, but not at 60-70x our 2015 P/E estimates. We are skeptical given TSLA’s desire to be more than a niche luxury manufacturer by developing a sub-$50k price point EV when the market has shown no appetite, in our opinion, for such a product. Competition is also looming, so development time will come under pressure, which could drive operational mis-steps.,” Stifel Nicolaus’ analyst wrote.
Shares of Tesla Motors (NASDAQ:TSLA) opened at 139.772 on Wednesday. Tesla Motors has a 52 week low of $29.85 and a 52 week high of $194.50. The stock has a 50-day moving average of $175.1 and a 200-day moving average of $131.0. The company’s market cap is $16.975 billion. Tesla Motors also saw unusually large options trading on Tuesday. Stock investors acquired 160,248 call options on the stock. This is an increase of 186% compared to the average volume of 56,103 call options.
Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $0.01. The company had revenue of $431.35 million for the quarter, compared to the consensus estimate of $535.41 million. During the same quarter last year, the company posted ($0.92) earnings per share. Tesla Motors’s revenue was up 760.9% compared to the same quarter last year.
A number of other analysts have also recently weighed in on TSLA. Analysts at JPMorgan Chase & Co. reiterated a neutral rating on shares of Tesla Motors in a research note to investors on Wednesday. They now have a $97.00 price target on the stock, up previously from $93.00. Separately, analysts at TheStreet reiterated a sell rating on shares of Tesla Motors in a research note to investors on Wednesday. Finally, analysts at Deutsche Bank reiterated a buy rating on shares of Tesla Motors in a research note to investors on Wednesday. They now have a $200.00 price target on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $152.72.
Tesla Motors, Inc (NASDAQ:TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.
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