Tesla Motors Inc. (NASDAQ:TSLA)‘s stock had its “equal weight” rating reissued by equities research analysts at Morgan Stanley in a report released on Wednesday. They presently have a $245.00 price objective on the electric vehicle producer’s stock. Morgan Stanley’s target price suggests a potential upside of 21.89% from the company’s previous close.
A number of other research firms have also commented on TSLA. Robert W. Baird reaffirmed an “outperform” rating and issued a $338.00 price objective on shares of Tesla Motors in a research note on Tuesday, July 5th. Pacific Crest reaffirmed a “hold” rating on shares of Tesla Motors in a research note on Wednesday, September 28th. Piper Jaffray Cos. started coverage on Tesla Motors in a research note on Thursday, June 9th. They issued a “neutral” rating and a $223.00 price objective on the stock. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Tesla Motors in a research note on Monday, July 25th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $290.00 price objective on shares of Tesla Motors in a research note on Wednesday, July 6th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $246.32.
Tesla Motors (NASDAQ:TSLA) opened at 201.00 on Wednesday. The firm’s market capitalization is $29.89 billion. The firm’s 50-day moving average is $208.01 and its 200-day moving average is $222.01. Tesla Motors has a 52-week low of $141.05 and a 52-week high of $269.34.
Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.55. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business posted ($0.48) earnings per share. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, equities analysts expect that Tesla Motors will post ($0.93) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. increased its position in shares of Tesla Motors by 9.5% in the second quarter. Baillie Gifford & Co. now owns 13,066,791 shares of the electric vehicle producer’s stock worth $2,773,818,000 after buying an additional 1,137,759 shares during the period. Vanguard Group Inc. boosted its position in shares of Tesla Motors by 13.4% in the second quarter. Vanguard Group Inc. now owns 4,894,369 shares of the electric vehicle producer’s stock worth $1,038,976,000 after buying an additional 578,459 shares in the last quarter. Bloom Tree Partners LLC purchased a new position in shares of Tesla Motors during the first quarter worth approximately $59,515,000. State Treasurer State of Michigan boosted its position in shares of Tesla Motors by 224.0% in the second quarter. State Treasurer State of Michigan now owns 339,623 shares of the electric vehicle producer’s stock worth $72,095,000 after buying an additional 234,802 shares in the last quarter. Finally, Blue Ridge Capital L.L.C. purchased a new position in shares of Tesla Motors during the second quarter worth approximately $40,596,000. Hedge funds and other institutional investors own 66.62% of the company’s stock.
About Tesla Motors
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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