Mizuho Issues Pessimistic Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its price target dropped by equities research analysts at Mizuho from $430.00 to $375.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the electric vehicle producer’s stock. Mizuho’s target price indicates a potential upside of 48.83% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. The Goldman Sachs Group reduced their target price on Tesla from $320.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley dropped their price target on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $425.00 price objective on shares of Tesla in a research report on Thursday, April 3rd. Finally, Guggenheim decreased their price objective on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a report on Wednesday, March 12th. Eight equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $298.59.

Tesla Stock Down 0.2 %

TSLA stock opened at $251.96 on Thursday. Tesla has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a market cap of $810.42 billion, a price-to-earnings ratio of 123.51, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $285.19 and a two-hundred day moving average price of $323.09.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts anticipate that Tesla will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Tesla by 4.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 11,046 shares of the electric vehicle producer’s stock worth $2,890,000 after buying an additional 475 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Tesla by 13.3% in the third quarter. M&T Bank Corp now owns 341,442 shares of the electric vehicle producer’s stock valued at $89,332,000 after acquiring an additional 39,961 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of Tesla by 6.0% during the third quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer’s stock valued at $890,000 after acquiring an additional 192 shares during the last quarter. Finally, Advisory Resource Group lifted its holdings in Tesla by 1.2% during the third quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer’s stock worth $1,115,000 after acquiring an additional 50 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.