Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Tesla (NASDAQ:TSLA) had its price objective increased by analysts at The Goldman Sachs Group from $395.00 to $425.00 in a report issued on Friday,MarketScreener reports. The firm presently has a “neutral” rating on the electric vehicle producer’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 1.12% from the company’s current price.

A number of other research firms also recently issued reports on TSLA. HSBC boosted their price target on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Piper Sandler increased their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price target on shares of Tesla in a research report on Thursday. Finally, William Blair reissued a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $343.43.

Tesla Stock Performance

Shares of TSLA stock opened at $429.83 on Friday. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The company has a 50 day moving average price of $364.02 and a 200 day moving average price of $321.99. Tesla has a one year low of $212.11 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. Sell-side analysts anticipate that Tesla will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,606 shares of company stock valued at $77,360,462. Corporate insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently bought and sold shares of TSLA. Means Investment CO. Inc. boosted its position in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. boosted its holdings in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares during the period. Siren L.L.C. bought a new position in shares of Tesla during the first quarter worth about $2,332,000. Zuckerman Investment Group LLC increased its holdings in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after acquiring an additional 826 shares during the period. Finally, Keystone Global Partners LLC bought a new stake in Tesla in the 1st quarter valued at about $594,000. 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.