Vetr upgraded shares of Tesla Motors Inc. (NASDAQ:TSLA) from a hold rating to a buy rating in a report published on Wednesday. They currently have $211.43 price target on the electric vehicle producer’s stock.
Several other brokerages have also recently issued reports on TSLA. Robert W. Baird reissued a buy rating and issued a $338.00 price objective on shares of Tesla Motors in a research note on Monday, August 1st. Oppenheimer Holdings Inc. reissued a market perform rating on shares of Tesla Motors in a research note on Friday, August 5th. RBC Capital Markets set a $210.00 price objective on Tesla Motors and gave the stock a hold rating in a research note on Thursday, July 21st. Barclays PLC set a $165.00 price objective on Tesla Motors and gave the stock a sell rating in a research note on Tuesday, July 19th. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $245.00 target price on shares of Tesla Motors in a research report on Wednesday, August 3rd. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Tesla Motors presently has an average rating of Hold and a consensus target price of $246.30.
Shares of Tesla Motors (NASDAQ:TSLA) opened at 193.96 on Wednesday. Tesla Motors has a 52-week low of $141.05 and a 52-week high of $269.34. The company’s market capitalization is $28.84 billion. The company’s 50 day moving average price is $203.15 and its 200 day moving average price is $220.37.
Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by $0.55. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. The firm earned $1.56 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned ($0.48) EPS. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, analysts predict that Tesla Motors will post ($0.93) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. boosted 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 valued at $2,773,818,000 after buying an additional 1,137,759 shares in the last quarter. 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 valued at $1,038,976,000 after buying an additional 578,459 shares in the last quarter. Bloom Tree Partners LLC bought a new position in shares of Tesla Motors during the first quarter valued at $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 valued at $72,095,000 after buying an additional 234,802 shares in the last quarter. Finally, Blue Ridge Capital L.L.C. bought a new position in shares of Tesla Motors during the second quarter valued at $40,596,000. Institutional investors and hedge funds 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.
To view Vetr’s full report, visit Vetr’s official website.
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