Tesla Motors Inc. (NASDAQ:TSLA) was downgraded by equities researchers at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report issued on Thursday, The Fly reports.
Several other analysts have also issued reports on TSLA. Zacks Investment Research lowered Tesla Motors from a “hold” rating to a “sell” rating in a research note on Wednesday, June 8th. Piper Jaffray Cos. initiated coverage on Tesla Motors in a research note on Thursday, June 9th. They set a “neutral” rating and a $223.00 target price on the stock. Pacific Crest reiterated a “hold” rating and set a $212.00 target price on shares of Tesla Motors in a research note on Monday, June 13th. Global Equities Research reiterated a “buy” rating and set a $385.00 target price on shares of Tesla Motors in a research note on Monday, June 13th. Finally, Oppenheimer Holdings Inc. lowered Tesla Motors from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $264.75 to $195.00 in a research note on Wednesday, June 22nd. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $248.49.
Tesla Motors (NASDAQ:TSLA) opened at 208.46 on Thursday. Tesla Motors has a 12 month low of $141.05 and a 12 month high of $269.34. The firm has a 50-day moving average price of $208.65 and a 200 day moving average price of $222.16. The company’s market cap is $31.00 billion.
Tesla Motors (NASDAQ:TSLA) last released 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. The business earned $1.56 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. Tesla Motors’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.48) EPS. On average, equities analysts expect that Tesla Motors will post ($0.93) earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. 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 last quarter. Vanguard Group Inc. increased 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 during the last quarter. Bloom Tree Partners LLC acquired a new position in shares of Tesla Motors during the first quarter worth $59,515,000. State Treasurer State of Michigan increased 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 during the last quarter. Finally, Blue Ridge Capital L.L.C. acquired a new position in shares of Tesla Motors during the second quarter worth $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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