Tesla (NASDAQ:TSLA) Price Target Lowered to $293.00 at Royal Bank of Canada

Tesla (NASDAQ:TSLA) had its target price decreased by investment analysts at Royal Bank of Canada from $294.00 to $293.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has an “outperform” rating on the electric vehicle producer’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 72.17% from the stock’s current price.

Several other equities research analysts also recently commented on TSLA. Canaccord Genuity Group decreased their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday. Mizuho decreased their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday. Jefferies Financial Group decreased their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Sanford C. Bernstein decreased their price target on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Finally, Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Wednesday. 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 stock. According to MarketBeat, Tesla has an average rating of “Hold” and an average target price of $186.70.

Tesla Price Performance

Shares of TSLA opened at $170.18 on Wednesday. The firm has a market cap of $541.99 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. Tesla has a 52-week low of $138.80 and a 52-week high of $299.29. The business’s 50 day moving average price is $175.67 and its two-hundred day moving average price is $208.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS. On average, equities analysts anticipate that Tesla will post 1.97 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 in the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wyrmwood Management LLC purchased a new position in shares of Tesla in the 4th quarter valued at approximately $25,000. Lam Group Inc. bought a new stake in shares of Tesla in the 4th quarter worth $25,000. Mendota Financial Group LLC increased its holdings in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV increased its holdings in shares of Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

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.