Tesla, Inc. (NASDAQ:TSLA) Receives $404.37 Consensus Target Price from Analysts

Tesla, Inc. (NASDAQ:TSLA) has received an average rating of “Hold” from the forty-five ratings firms that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation, nineteen have given a hold recommendation and twenty-one have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $403.0651.

A number of analysts have commented on TSLA shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tesla in a research note on Monday, June 1st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Tesla in a research note on Wednesday, June 24th. The Goldman Sachs Group started coverage on shares of Tesla in a research note on Friday, June 5th. They issued a “buy” rating for the company. HSBC reiterated a “hold” rating on shares of Tesla in a research note on Monday, June 15th. Finally, Bank of America began coverage on shares of Tesla in a research note on Wednesday, March 4th. They set a “buy” rating and a $460.00 target price for the company.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Analysts remained constructive on Tesla’s longer-term growth story, with one Seeking Alpha piece upgrading the stock and arguing that two previously speculative “moonshots” are becoming medium-term catalysts. Tesla: 2 Moonshots Have Now Become Medium-Term Catalysts (Rating Upgrade)
• Positive Sentiment: Tesla announced expansion plans in Germany, including higher production at Gigafactory Berlin, which supports the narrative that demand is improving in Europe. Tesla Expands Production In Germany, As VW Cuts 100,000 Jobs
• Positive Sentiment: Tesla also benefited from headlines around its energy business, including a major 16-gigawatt power partnership with Sunrun and Renew Home that could strengthen Tesla Energy’s growth profile. Tesla (TSLA) Lands 16 Gigawatt U.S. Power Plant Deal And 25 Gigawatt Hour Europe Pact
• Neutral Sentiment: Elon Musk’s teaser about a highly advanced next-generation Roadster and other futuristic ambitions may support the long-term story, but it is not an immediate fundamental catalyst. Elon Musk Teases Flying Tesla Roadster With Crazy Tech
• Negative Sentiment: Tesla is facing renewed federal scrutiny after a fatal Model 3 crash, including an NHTSA probe and a separate NTSB investigation, which raises fresh concerns about Full Self-Driving safety. Tesla Under Fresh Scrutiny After Model 3 Crashes Into Home, Killing Woman
• Negative Sentiment: Tesla also settled a lawsuit tied to a fatal Full Self-Driving crash while federal investigations continue, reinforcing investor worries about legal liability and autonomy risk. Tesla settles FSD crash lawsuit as federal investigations continue
• Negative Sentiment: Several market commentaries argued that Tesla remains expensive relative to its current fundamentals, with valuation skepticism and underperformance concerns weighing on sentiment. Tesla Stock Is Having a Bad Week and an Even Worse Month

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares in the company, valued at approximately $8,864,085.80. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 32,015 shares of company stock valued at $12,383,640. 19.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in Tesla in the 4th quarter worth about $17,128,100,000. Corient Private Wealth LLC grew its holdings in shares of Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Tesla by 56.0% during the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock valued at $9,334,211,000 after purchasing an additional 7,450,766 shares during the last quarter. Cardano Risk Management B.V. grew its holdings in Tesla by 882.8% during the 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock worth $3,688,630,000 after acquiring an additional 7,367,507 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Tesla by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after acquiring an additional 6,538,720 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $379.71 on Monday. The stock has a market cap of $1.43 trillion, a P/E ratio of 348.36, a P/E/G ratio of 15.18 and a beta of 1.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. The company has a fifty day moving average price of $405.62 and a two-hundred day moving average price of $412.99. Tesla has a one year low of $288.77 and a one year high of $498.83.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 earnings per share. As a group, equities analysts predict that Tesla will post 1.19 EPS for the current year.

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.