Tesla (NASDAQ:TSLA) Now Covered by Analysts at Oppenheimer

Equities researchers at Oppenheimer started coverage on shares of Tesla (NASDAQ:TSLA) in a research report issued on Tuesday, AnalystRatings.com reports. The firm set a “buy” rating and a $968.00 price target on the electric vehicle producer’s stock. Oppenheimer’s target price suggests a potential downside of 19.91% from the company’s current price.

Several other equities analysts have also commented on TSLA. Royal Bank of Canada upped their price target on shares of Tesla from $380.00 to $615.00 and gave the stock an “underperform” rating in a research report on Thursday, April 30th. Piper Sandler upped their price target on shares of Tesla from $819.00 to $939.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Bank of America upgraded shares of Tesla to a “buy” rating in a research report on Wednesday, May 6th. Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Friday, June 12th. Finally, Jefferies Financial Group upped their price target on shares of Tesla from $650.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Eleven analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $630.19.

TSLA stock opened at $1,208.66 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.24 and a quick ratio of 0.87. Tesla has a 1-year low of $211.00 and a 1-year high of $1,228.00. The firm has a fifty day moving average price of $907.09 and a two-hundred day moving average price of $683.89. The firm has a market cap of $224.66 billion, a price-to-earnings ratio of -1,358.04 and a beta of 1.18.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, April 29th. The electric vehicle producer reported $1.24 EPS for the quarter, topping the consensus estimate of ($0.36) by $1.60. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.85 billion. Tesla had a negative net margin of 0.55% and a negative return on equity of 1.86%. The company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.90) earnings per share. As a group, analysts expect that Tesla will post -0.56 EPS for the current fiscal year.

In other Tesla news, SVP Andrew D. Baglino sold 300 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $623.63, for a total transaction of $187,089.00. Following the completion of the sale, the senior vice president now directly owns 4,445 shares of the company’s stock, valued at $2,772,035.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew D. Baglino sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $785.75, for a total transaction of $1,571,500.00. Following the sale, the senior vice president now directly owns 6,145 shares of the company’s stock, valued at $4,828,433.75. The disclosure for this sale can be found here. Insiders sold a total of 18,198 shares of company stock valued at $15,698,572 over the last three months. 23.00% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Efficient Wealth Management LLC purchased a new stake in Tesla during the first quarter valued at about $26,000. RPG Investment Advisory LLC purchased a new stake in Tesla during the first quarter valued at about $26,000. MCF Advisors LLC purchased a new stake in Tesla during the first quarter valued at about $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Tesla during the first quarter valued at about $26,000. Finally, Bourgeon Capital Management LLC purchased a new stake in Tesla during the first quarter valued at about $26,000. 50.40% of the stock is owned by institutional investors.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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