Vetr upgraded shares of Tesla Motors Inc. (NASDAQ:TSLA) from a hold rating to a buy rating in a research note issued to investors on Thursday. They currently have $212.01 price objective on the electric vehicle producer’s stock.
Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada restated a hold rating on shares of Tesla Motors in a research note on Saturday, July 9th. Pacific Crest restated a sector weight rating on shares of Tesla Motors in a research note on Wednesday, June 22nd. Morgan Stanley restated an equal weight rating and set a $245.00 target price on shares of Tesla Motors in a research note on Wednesday, August 3rd. Robert W. Baird reaffirmed an outperform rating and set a $338.00 price target on shares of Tesla Motors in a research report on Wednesday, June 22nd. Finally, Oppenheimer Holdings Inc. lowered shares of Tesla Motors from an outperform rating to a market perform rating and reduced their price target for the company from $264.75 to $195.00 in a research report on Wednesday, June 22nd. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $246.32.
Shares of Tesla Motors (NASDAQ:TSLA) traded down 1.70% during midday trading on Thursday, reaching $197.59. 2,289,232 shares of the company’s stock traded hands. The firm’s market capitalization is $29.38 billion. The stock’s 50-day moving average price is $208.01 and its 200 day moving average price is $222.01. Tesla Motors has a one year low of $141.05 and a one year high of $269.34.
Tesla Motors (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.55. The company had revenue of $1.56 billion for 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 revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.48) EPS. On average, equities research analysts expect that Tesla Motors will post ($0.93) earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Aperio Group LLC increased its stake in shares of Tesla Motors by 23.1% in the first quarter. Aperio Group LLC now owns 21,506 shares of the electric vehicle producer’s stock worth $4,941,000 after buying an additional 4,040 shares in the last quarter. Nisa Investment Advisors L.L.C. increased its stake in shares of Tesla Motors by 5.7% in the first quarter. Nisa Investment Advisors L.L.C. now owns 3,700 shares of the electric vehicle producer’s stock worth $850,000 after buying an additional 200 shares in the last quarter. Virginia Retirement System bought a new stake in shares of Tesla Motors during the first quarter worth about $366,000. Teachers Advisors Inc. increased its stake in shares of Tesla Motors by 4.9% in the first quarter. Teachers Advisors Inc. now owns 208,865 shares of the electric vehicle producer’s stock worth $47,991,000 after buying an additional 9,669 shares in the last quarter. Finally, BlackRock Japan Co. Ltd increased its stake in shares of Tesla Motors by 1.5% in the first quarter. BlackRock Japan Co. Ltd now owns 121,847 shares of the electric vehicle producer’s stock worth $27,997,000 after buying an additional 1,796 shares in the last quarter. 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.
To view Vetr’s full report, visit Vetr’s official website.
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