Tesla (NASDAQ:TSLA) Price Target Raised to $417.00 at Morgan Stanley

Tesla (NASDAQ:TSLAGet Free Report) had its price objective upped by research analysts at Morgan Stanley from $415.00 to $417.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the electric vehicle producer’s stock. Morgan Stanley’s price target would suggest a potential upside of 5.63% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Evercore upgraded shares of Tesla from a “hold” rating to an “outperform” rating in a report on Friday, June 5th. Barclays reissued a “neutral” rating on shares of Tesla in a research report on Wednesday, May 13th. BTIG Research downgraded Tesla to a “neutral” rating in a research note on Friday, June 5th. Sanford C. Bernstein raised Tesla from an “underperform” rating to an “outperform” rating in a report on Friday, June 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Tesla in a research report on Tuesday, April 21st. Twenty-one analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $408.07.

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Tesla Price Performance

Shares of Tesla stock opened at $394.76 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $410.72 and a 200-day simple moving average of $408.03. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 362.17, a PEG ratio of 14.93 and a beta of 1.80. Tesla has a 1-year low of $297.82 and a 1-year high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. Tesla’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. On average, sell-side analysts expect that Tesla will post 1.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the transaction, the chief financial officer owned 22,039 shares in the company, valued at $8,864,085.80. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the sale, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,015 shares of company stock worth $12,383,640 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TSLA. Thompson Investment Management Inc. boosted its stake in shares of Tesla by 16.7% in the 2nd quarter. Thompson Investment Management Inc. now owns 440 shares of the electric vehicle producer’s stock valued at $185,000 after purchasing an additional 63 shares in the last quarter. Nova Wealth Management Inc. increased its position in shares of Tesla by 39.6% during the 2nd quarter. Nova Wealth Management Inc. now owns 2,019 shares of the electric vehicle producer’s stock worth $849,000 after purchasing an additional 573 shares in the last quarter. New Covenant Trust Company N.A. increased its position in shares of Tesla by 15.9% during the 2nd quarter. New Covenant Trust Company N.A. now owns 3,430 shares of the electric vehicle producer’s stock worth $1,443,000 after purchasing an additional 470 shares in the last quarter. Brickley Wealth Management lifted its holdings in Tesla by 3.6% during the 2nd quarter. Brickley Wealth Management now owns 757 shares of the electric vehicle producer’s stock valued at $318,000 after purchasing an additional 26 shares during the last quarter. Finally, Cambridge Financial Group LLC boosted its position in Tesla by 1.5% in the second quarter. Cambridge Financial Group LLC now owns 1,783 shares of the electric vehicle producer’s stock valued at $750,000 after buying an additional 27 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Key Headlines Impacting Tesla

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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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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