Stifel Nicolaus Increases Tesla (NASDAQ:TSLA) Price Target to $508.00

Tesla (NASDAQ:TSLA) had its price target upped by stock analysts at Stifel Nicolaus from $483.00 to $508.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the electric vehicle producer’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 26.60% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Mizuho increased their target price on shares of Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Evercore ISI raised their price objective on Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Truist Financial lifted their target price on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. New Street Research increased their price target on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, President Capital boosted their price objective on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $394.31.

Tesla Stock Down 1.9%

Shares of Tesla stock opened at $401.25 on Monday. The business has a fifty day simple moving average of $432.00 and a 200 day simple moving average of $363.04. The stock has a market cap of $1.33 trillion, a PE ratio of 267.50, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla has a 12 month low of $214.25 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. Research analysts predict that Tesla will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last ninety days. 19.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Relyea Zuckerberg Hanson LLC lifted its stake in Tesla by 0.4% during the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock valued at $2,916,000 after acquiring an additional 23 shares during the period. Equita Financial Network Inc. raised its holdings in shares of Tesla by 2.8% during the third quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock valued at $380,000 after purchasing an additional 23 shares during the last quarter. VanderPol Investments L.L.C. lifted its position in Tesla by 2.2% during the third quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock valued at $464,000 after purchasing an additional 23 shares during the period. Resonant Capital Advisors LLC grew its position in Tesla by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock worth $3,814,000 after purchasing an additional 23 shares during the period. Finally, Cloud Capital Management LLC raised its stake in Tesla by 1.1% during the 3rd quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock valued at $923,000 after buying an additional 23 shares during the last quarter. 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.