Mizuho Cuts Tesla (NASDAQ:TSLA) Price Target to $480.00

Tesla (NASDAQ:TSLAFree Report) had its target price decreased by Mizuho from $540.00 to $480.00 in a report released on Thursday, Marketbeat reports. Mizuho currently has an outperform rating on the electric vehicle producer’s stock.

A number of other research firms also recently commented on TSLA. DZ Bank reiterated a “sell” rating on shares of Tesla in a research note on Thursday, January 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $510.00 target price on shares of Tesla in a research report on Wednesday. President Capital reduced their price target on shares of Tesla from $500.00 to $424.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. China Renaissance lifted their price target on Tesla from $380.00 to $382.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley set a $415.00 price objective on Tesla and gave the company an “equal weight” rating in a report on Thursday, January 29th. Eighteen analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $398.45.

View Our Latest Analysis on Tesla

Tesla Stock Performance

Shares of TSLA opened at $376.30 on Thursday. The business’s 50 day moving average is $385.94 and its two-hundred day moving average is $420.67. Tesla has a 52-week low of $259.63 and a 52-week high of $498.83. The firm has a market cap of $1.41 trillion, a price-to-earnings ratio of 345.23, a PEG ratio of 11.87 and a beta of 1.91. The company has a quick ratio of 1.77, a current ratio of 2.04 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Wednesday, April 22nd. The electric vehicle producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. Analysts forecast that Tesla will post 1.36 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,264 shares of the company’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 transaction, the chief financial officer owned 18,106 shares in the company, valued at approximately $7,188,625.18. This represents a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the director directly owned 33,860 shares of the company’s stock, valued at $12,166,913.80. The trade was a 43.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,804 shares of company stock valued at $20,865,598 in the last 90 days. Insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Eagle Bay Advisors LLC raised its position in shares of Tesla by 1.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 24,805 shares of the electric vehicle producer’s stock worth $9,221,000 after buying an additional 275 shares in the last quarter. Boston Trust Walden Corp increased its stake in shares of Tesla by 183.7% during the first quarter. Boston Trust Walden Corp now owns 9,603 shares of the electric vehicle producer’s stock valued at $3,570,000 after acquiring an additional 6,218 shares during the period. Keybank National Association OH lifted its position in Tesla by 24.5% in the first quarter. Keybank National Association OH now owns 66,692 shares of the electric vehicle producer’s stock worth $24,793,000 after purchasing an additional 13,144 shares during the period. GPM Growth Investors Inc. bought a new position in Tesla during the 1st quarter valued at $2,000,000. Finally, Stevens Capital Partners increased its position in shares of Tesla by 26.9% during the 1st quarter. Stevens Capital Partners now owns 3,758 shares of the electric vehicle producer’s stock valued at $1,397,000 after purchasing an additional 797 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

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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.

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