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

Tesla (NASDAQ:TSLA) had its price objective boosted by Evercore ISI from $195.00 to $275.00 in a report published on Friday morning,Benzinga reports. The firm currently has an in-line rating on the electric vehicle producer’s stock.

Several other research firms also recently weighed in on TSLA. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Stifel Nicolaus upped their price objective on shares of Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Wedbush reaffirmed an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a report on Monday, November 18th. Cantor Fitzgerald upped their price objective on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $283.39.

Tesla Stock Up 8.2 %

Tesla stock opened at $410.44 on Friday. The company has a 50-day simple moving average of $362.37 and a 200-day simple moving average of $273.76. The firm has a market capitalization of $1.32 trillion, a P/E ratio of 112.45, a P/E/G ratio of 10.80 and a beta of 2.36. 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 released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. As a group, equities analysts expect that Tesla will post 1.99 earnings per share for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 514,886 shares of company stock worth $169,393,831 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds have recently added to or reduced their stakes in the company. Connable Office Inc. increased its holdings in Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after buying an additional 38 shares during the last quarter. Community Bank N.A. increased its holdings in Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares during the last quarter. Holistic Financial Partners increased its holdings in Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after buying an additional 40 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc increased its holdings in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. increased its holdings in Tesla by 0.4% in the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.