Tesla (NASDAQ:TSLA) Earns Buy Rating from Analysts at Tigress Financial

Tigress Financial assumed coverage on shares of Tesla (NASDAQ:TSLAFree Report) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $550.00 price objective on the electric vehicle producer’s stock.

TSLA has been the subject of several other reports. Cantor Fitzgerald restated an “overweight” rating and set a $510.00 target price on shares of Tesla in a research note on Thursday, January 29th. President Capital reduced their price target on Tesla from $517.00 to $500.00 and set a “buy” rating for the company in a report on Friday, January 30th. Royal Bank Of Canada restated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a report on Thursday, January 29th. JPMorgan Chase & Co. reduced their target price on Tesla from $150.00 to $145.00 and set an “underweight” rating for the company in a research note on Friday, January 30th. Finally, Glj Research restated a “sell” rating on shares of Tesla in a research note on Thursday, January 29th. Eighteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $408.09.

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Tesla Stock Up 0.1%

NASDAQ TSLA opened at $417.44 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.16 and a debt-to-equity ratio of 0.08. Tesla has a fifty-two week low of $214.25 and a fifty-two week high of $498.83. The business has a 50 day moving average price of $444.24 and a two-hundred day moving average price of $414.68. The stock has a market cap of $1.57 trillion, a PE ratio of 386.52, a P/E/G ratio of 14.13 and a beta of 1.86.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The company had revenue of $24.90 billion for the quarter, compared to analyst estimates of $24.75 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 earnings per share. As a group, sell-side analysts predict that Tesla will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the completion of the sale, the director owned 577,031 shares of the company’s stock, valued at $257,009,607.40. This represents a 9.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. This represents a 16.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 119,457 shares of company stock valued at $53,501,145. Company insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Networth Advisors LLC bought a new position in Tesla in the 4th quarter worth about $26,000. Davidson Capital Management Inc. boosted its position in shares of Tesla by 79.4% during the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 27 shares during the period. Turning Point Benefit Group Inc. bought a new position in Tesla in the 3rd quarter worth approximately $30,000. Manning & Napier Advisors LLC acquired a new stake in Tesla in the 3rd quarter valued at approximately $29,000. Finally, Prism Advisors Inc. bought a new stake in Tesla during the 4th quarter valued at $30,000. 66.20% of the stock is currently owned by institutional investors.

Tesla News Summary

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About Tesla

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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.

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