Tesla, Inc. (NASDAQ:TSLA – Get Rating) – Wedbush decreased their Q2 2022 EPS estimates for Tesla in a report issued on Thursday, May 19th. Wedbush analyst D. Ives now anticipates that the electric vehicle producer will post earnings per share of $1.59 for the quarter, down from their prior forecast of $2.29. Wedbush has a “Outperform” rating and a $1,000.00 price objective on the stock. Wedbush also issued estimates for Tesla’s Q3 2022 earnings at $2.45 EPS, Q4 2022 earnings at $2.67 EPS, FY2022 earnings at $9.57 EPS, Q1 2023 earnings at $2.84 EPS, Q2 2023 earnings at $2.89 EPS, Q3 2023 earnings at $2.99 EPS, Q4 2023 earnings at $3.65 EPS and FY2023 earnings at $12.37 EPS.
A number of other research analysts also recently weighed in on TSLA. Sanford C. Bernstein raised their target price on shares of Tesla from $300.00 to $450.00 and gave the company an “underperform” rating in a research report on Monday, February 28th. Jefferies Financial Group started coverage on shares of Tesla in a research report on Thursday, April 21st. They issued a “buy” rating and a $1,250.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $335.00 to $395.00 and gave the company an “underweight” rating in a research report on Thursday, April 21st. TheStreet upgraded shares of Tesla from a “c+” rating to a “b-” rating in a research note on Wednesday, April 27th. Finally, UBS Group raised their target price on shares of Tesla from $1,000.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Monday, April 4th. Eight research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $920.78.
Tesla (NASDAQ:TSLA – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The electric vehicle producer reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $1.22. Tesla had a net margin of 13.51% and a return on equity of 28.11%. The company had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $17.84 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The firm’s revenue was up 80.5% compared to the same quarter last year.
In related news, SVP Andrew D. Baglino sold 3,500 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $815.72, for a total value of $2,855,020.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 5,000 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $875.23, for a total value of $4,376,150.00. Following the completion of the sale, the senior vice president now directly owns 20,138 shares of the company’s stock, valued at approximately $17,625,381.74. The disclosure for this sale can be found here. Insiders sold a total of 417,001 shares of company stock valued at $373,252,861 in the last 90 days. 25.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Quilter Plc increased its holdings in shares of Tesla by 6.6% during the first quarter. Quilter Plc now owns 42,977 shares of the electric vehicle producer’s stock valued at $46,312,000 after acquiring an additional 2,646 shares in the last quarter. Greylin Investment Mangement Inc. increased its holdings in shares of Tesla by 10.7% in the first quarter. Greylin Investment Mangement Inc. now owns 1,306 shares of the electric vehicle producer’s stock worth $1,407,000 after purchasing an additional 126 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Tesla by 14.0% in the first quarter. EP Wealth Advisors LLC now owns 8,559 shares of the electric vehicle producer’s stock worth $9,223,000 after purchasing an additional 1,053 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Tesla by 11.7% in the first quarter. The Manufacturers Life Insurance Company now owns 709,141 shares of the electric vehicle producer’s stock worth $765,715,000 after purchasing an additional 74,544 shares during the last quarter. Finally, Resources Management Corp CT ADV grew its position in Tesla by 10.9% in the first quarter. Resources Management Corp CT ADV now owns 366 shares of the electric vehicle producer’s stock worth $394,000 after acquiring an additional 36 shares in the last quarter. 40.64% of the stock is owned by institutional investors and hedge funds.
Tesla Company Profile (Get Rating)
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.
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