Wedbush Reaffirms “Outperform” Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $275.00 price objective on the electric vehicle producer’s stock. Wedbush’s price objective indicates a potential upside of 63.41% from the company’s current price. Wedbush also issued estimates for Tesla’s Q4 2024 earnings at $0.58 EPS, Q2 2025 earnings at $0.70 EPS and Q4 2025 earnings at $0.80 EPS.

TSLA has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Roth Mkm reissued a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, April 24th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $185.78.

Tesla Stock Performance

Shares of TSLA stock opened at $168.29 on Monday. The stock has a market cap of $536.71 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 4.45 and a beta of 2.40. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The business has a 50-day simple moving average of $175.04 and a 200-day simple moving average of $207.22. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last quarter. 20.90% of the stock is owned by insiders.

Institutional Trading of Tesla

A number of large investors have recently modified their holdings of TSLA. Vanguard Group Inc. raised its stake in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. Norges Bank acquired a new position in Tesla in the fourth quarter valued at $7,844,757,000. Morgan Stanley grew its holdings in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the last quarter. FMR LLC increased its position in shares of Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after purchasing an additional 269,182 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after purchasing an additional 909,170 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.