Tesla (NASDAQ:TSLA) Stock Rating Reaffirmed by Piper Sandler

Tesla (NASDAQ:TSLA)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Sandler in a research report issued on Monday, Benzinga reports. They currently have a $205.00 price target on the electric vehicle producer’s stock. Piper Sandler’s price target indicates a potential upside of 41.69% from the stock’s previous close.

Several other equities research analysts also recently weighed in on TSLA. Citigroup cut their price target on Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. TD Cowen cut their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. JPMorgan Chase & Co. cut their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Wednesday, April 17th. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $194.33.

Tesla Stock Performance

Shares of TSLA stock opened at $144.68 on Monday. The firm has a market capitalization of $460.78 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 3.89 and a beta of 2.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The business has a fifty day moving average of $176.81 and a 200 day moving average of $209.24. Tesla has a 1 year low of $138.80 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $1.07 EPS. As a group, research analysts expect that Tesla will post 1.97 earnings per share for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Institutional investors have recently modified their holdings of the business. Wyrmwood Management LLC acquired a new position in shares of Tesla during the fourth quarter worth $25,000. Lam Group Inc. purchased a new stake in Tesla in the fourth quarter valued at $25,000. Mendota Financial Group LLC lifted its position in 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 during the last quarter. Ogorek Anthony Joseph NY ADV lifted its position in Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new stake in Tesla in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

About Tesla

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.