Tesla (NASDAQ:TSLA) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Tesla (NASDAQ:TSLAFree Report) in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $510.00 target price on the electric vehicle producer’s stock.

Other research analysts also recently issued reports about the stock. Piper Sandler restated an “overweight” rating on shares of Tesla in a research note on Thursday, January 29th. Zacks Research downgraded shares of Tesla from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. Barclays restated a “neutral” rating on shares of Tesla in a research note on Wednesday, April 15th. Morgan Stanley set a $415.00 price objective on shares of Tesla and gave the company an “equal weight” rating in a research note on Thursday, January 29th. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of Tesla in a research note on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $397.26.

Get Our Latest Analysis on Tesla

Tesla Price Performance

Tesla stock opened at $387.51 on Wednesday. Tesla has a 52-week low of $244.43 and a 52-week high of $498.83. The firm has a fifty day moving average of $387.63 and a 200-day moving average of $421.62. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 358.81, a PEG ratio of 12.22 and a beta of 1.91. The company has a quick ratio of 1.77, a current ratio of 2.16 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share. As a group, analysts predict that Tesla will post 1.37 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $397.03, for a total transaction of $898,875.92. Following the completion of the sale, the chief financial officer owned 18,106 shares of the company’s stock, valued at $7,188,625.18. This represents a 11.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of the business’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the sale, the director directly owned 33,860 shares of the company’s stock, valued at approximately $12,166,913.80. This represents a 43.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,804 shares of company stock worth $20,865,598 over the last quarter. 19.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently modified their holdings of TSLA. Narwhal Capital Management grew its stake in shares of Tesla by 32.8% in the 3rd quarter. Narwhal Capital Management now owns 9,516 shares of the electric vehicle producer’s stock worth $4,232,000 after purchasing an additional 2,350 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Tesla by 29.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer’s stock worth $14,487,000 after purchasing an additional 7,446 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Tesla by 8.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 48,504 shares of the electric vehicle producer’s stock worth $21,571,000 after purchasing an additional 3,935 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of Tesla by 26.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 18,032 shares of the electric vehicle producer’s stock worth $8,019,000 after purchasing an additional 3,724 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its stake in shares of Tesla by 20.0% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 16,565 shares of the electric vehicle producer’s stock worth $7,367,000 after purchasing an additional 2,765 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

(Get Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Recommended Stories

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.