Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, Evercore ISI Analyst Says

Tesla (NASDAQ:TSLA) had its price objective hoisted by equities research analysts at Evercore ISI from $195.00 to $275.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “in-line” rating on the electric vehicle producer’s stock. Evercore ISI’s price objective indicates a potential downside of 33.00% from the stock’s previous close.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group upped their price objective on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Truist Financial reiterated a “hold” rating and issued a $360.00 price objective on shares of Tesla in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Robert W. Baird increased their target price on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $283.39.

Tesla Stock Up 8.2 %

Shares of Tesla stock opened at $410.44 on Friday. The company has a market cap of $1.32 trillion, a P/E ratio of 112.45, a PEG ratio of 10.80 and a beta of 2.36. The firm has a fifty day moving average of $362.37 and a two-hundred day moving average of $273.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, analysts forecast that Tesla will post 1.99 earnings per share for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 514,886 shares of company stock worth $169,393,831 in the last ninety days. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at about $29,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter worth $26,000. Finally, Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter worth $35,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.