Tesla (TSLA) Rating Reiterated by Sanford C. Bernstein

Tesla (NASDAQ:TSLA)‘s stock had its “neutral” rating reiterated by investment analysts at Sanford C. Bernstein in a research report issued on Friday, March 29th, Borsen Zeitung reports. They currently have a $325.00 target price on the electric vehicle producer’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 18.93% from the stock’s previous close.

Several other brokerages also recently weighed in on TSLA. Goldman Sachs Group reiterated a “sell” rating and issued a $210.00 price target on shares of Tesla in a report on Friday, March 1st. Wolfe Research increased their price target on Tesla from $410.00 to $430.00 and gave the stock an “outperform” rating in a report on Thursday, December 6th. JMP Securities dropped their price objective on Tesla from $406.00 to $394.00 and set an “outperform” rating on the stock in a research note on Monday, March 25th. Barclays reissued a “sell” rating and issued a $192.00 price objective on shares of Tesla in a research note on Tuesday, March 19th. Finally, Oppenheimer increased their price objective on Tesla from $418.00 to $437.00 and gave the stock an “outperform” rating in a research note on Thursday, January 31st. Fifteen analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. Tesla has an average rating of “Hold” and a consensus price target of $315.41.

Shares of NASDAQ TSLA opened at $273.26 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.52 and a current ratio of 0.83. Tesla has a fifty-two week low of $247.77 and a fifty-two week high of $387.46.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.93. Tesla had a negative return on equity of 18.50% and a negative net margin of 4.55%. The firm had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same period in the prior year, the business posted ($3.04) earnings per share. The company’s revenue for the quarter was up 119.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla will post -2.01 earnings per share for the current year.

In related news, insider Jeffrey B. Straubel sold 15,000 shares of the firm’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $293.66, for a total value of $4,404,900.00. Following the completion of the transaction, the insider now owns 321,398 shares in the company, valued at approximately $94,381,736.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Antonio J. Gracias sold 16,780 shares of the firm’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $306.01, for a total value of $5,134,847.80. Following the completion of the transaction, the director now owns 19,572 shares of the company’s stock, valued at approximately $5,989,227.72. The disclosure for this sale can be found here. Insiders sold a total of 98,040 shares of company stock valued at $28,575,874 in the last three months. Insiders own 22.80% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Alpha Windward LLC purchased a new position in Tesla in the 4th quarter worth $26,000. Sontag Advisory LLC purchased a new position in shares of Tesla during the 4th quarter valued at about $26,000. Gradient Investments LLC raised its stake in shares of Tesla by 1,660.0% during the 4th quarter. Gradient Investments LLC now owns 88 shares of the electric vehicle producer’s stock valued at $29,000 after buying an additional 83 shares during the last quarter. Intercontinental Wealth Advisors LLC purchased a new position in shares of Tesla during the 4th quarter valued at about $30,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Tesla during the 4th quarter valued at about $32,000. Institutional investors own 59.50% 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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