Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, Mizuho Analyst Says

Tesla (NASDAQ:TSLA) had its price objective hoisted by analysts at Mizuho from $450.00 to $485.00 in a note issued to investors on Thursday, Marketbeat.com reports. The firm presently has an “outperform” rating on the electric vehicle producer’s stock. Mizuho’s price target would suggest a potential upside of 11.82% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Melius initiated coverage on Tesla in a research note on Monday, October 13th. They issued a “buy” rating and a $520.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $600.00 price target on shares of Tesla in a research note on Monday, October 20th. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Barclays reiterated a “negative” rating and issued a $350.00 price target (up previously from $275.00) on shares of Tesla in a research note on Thursday, October 16th. Finally, Canaccord Genuity Group cut their price target on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $380.03.

Tesla Trading Down 3.4%

Shares of TSLA opened at $433.72 on Thursday. The stock’s 50-day moving average is $398.06 and its two-hundred day moving average is $339.92. The stock has a market cap of $1.44 trillion, a PE ratio of 289.15, a P/E/G ratio of 16.13 and a beta of 2.08. Tesla has a 12 month low of $214.25 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Equities analysts forecast that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last three months. 19.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently made changes to their positions in the stock. Relyea Zuckerberg Hanson LLC lifted its position in Tesla by 0.4% in the third quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock worth $2,916,000 after purchasing an additional 23 shares during the period. Equita Financial Network Inc. lifted its position in Tesla by 2.8% in the third quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock worth $380,000 after purchasing an additional 23 shares during the period. Pinnacle Bancorp Inc. lifted its position in Tesla by 4.1% in the third quarter. Pinnacle Bancorp Inc. now owns 609 shares of the electric vehicle producer’s stock worth $271,000 after purchasing an additional 24 shares during the period. Chesley Taft & Associates LLC lifted its position in Tesla by 0.8% in the third quarter. Chesley Taft & Associates LLC now owns 3,118 shares of the electric vehicle producer’s stock worth $1,387,000 after purchasing an additional 25 shares during the period. Finally, DecisionMap Wealth Management LLC lifted its position in Tesla by 1.0% in the third quarter. DecisionMap Wealth Management LLC now owns 2,533 shares of the electric vehicle producer’s stock worth $1,126,000 after purchasing an additional 25 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Company Profile

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.