Tesla (NASDAQ:TSLA) Upgraded by Deutsche Bank to Buy

Tesla (NASDAQ:TSLA) was upgraded by Deutsche Bank from a “hold” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat reports.

A number of other research analysts also recently weighed in on TSLA. BofA Securities upgraded Tesla from an “underperform” rating to a “neutral” rating in a report on Friday, August 14th. Canaccord Genuity reiterated a “hold” rating on shares of Tesla in a research note on Thursday, July 23rd. UBS Group boosted their target price on shares of Tesla from $160.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, September 11th. Oppenheimer started coverage on Tesla in a research report on Tuesday, June 30th. They issued a “buy” rating and a $193.60 price target on the stock. Finally, Sanford C. Bernstein reissued a “sell” rating and set a $180.00 price objective on shares of Tesla in a research report on Wednesday, July 29th. Ten research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $195.28.

NASDAQ TSLA traded down $21.64 during trading on Wednesday, reaching $402.59. The company’s stock had a trading volume of 581,661 shares, compared to its average volume of 86,550,906. The business has a 50-day moving average price of $383.97 and a 200-day moving average price of $229.20. Tesla has a 1-year low of $43.67 and a 1-year high of $502.49. The stock has a market capitalization of $393.20 billion, a PE ratio of 1,104.77, a PEG ratio of 15.47 and a beta of 1.63. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 22nd. The electric vehicle producer reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.91. Tesla had a net margin of 1.43% and a return on equity of 4.19%. The firm had revenue of $6.04 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the prior year, the company posted ($0.22) earnings per share. As a group, analysts expect that Tesla will post 0.69 earnings per share for the current year.

In other news, CAO Vaibhav Taneja sold 887 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $1,558.75, for a total value of $1,382,611.25. Following the completion of the sale, the chief accounting officer now directly owns 2,806 shares in the company, valued at $4,373,852.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Zachary Kirkhorn sold 1,250 shares of the firm’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $416.15, for a total value of $520,187.50. Following the completion of the sale, the chief financial officer now owns 58,124 shares of the company’s stock, valued at $24,188,302.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,404 shares of company stock worth $69,328,343. Company insiders own 23.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of TSLA. Capstone Financial Group Inc. acquired a new position in shares of Tesla during the second quarter worth approximately $25,000. Prestige Wealth Management Group LLC bought a new position in Tesla in the 1st quarter valued at $31,000. Lake Point Wealth Management increased its stake in shares of Tesla by 154.2% in the 1st quarter. Lake Point Wealth Management now owns 61 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 37 shares during the period. Danda Trouve Investment Management Inc. raised its position in shares of Tesla by 76.5% during the second quarter. Danda Trouve Investment Management Inc. now owns 30 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 13 shares during the last quarter. Finally, Perennial Advisors LLC acquired a new position in shares of Tesla during the first quarter valued at $34,000. Hedge funds and other institutional investors own 48.22% of the company’s stock.

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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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