Tesla’s (TSLA) “Buy” Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada restated their buy rating on shares of Tesla (NASDAQ:TSLAFree Report) in a report published on Monday morning,MarketScreener reports.

TSLA has been the subject of a number of other research reports. Tigress Financial began coverage on Tesla in a research report on Thursday, February 12th. They issued a “buy” rating and a $550.00 price objective for the company. Robert W. Baird lowered their price objective on Tesla from $538.00 to $522.00 and set an “outperform” rating for the company in a research report on Friday. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research report on Tuesday, January 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $510.00 price objective on shares of Tesla in a research report on Wednesday, April 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $398.42.

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Tesla Stock Performance

NASDAQ TSLA opened at $378.67 on Monday. Tesla has a fifty-two week low of $270.78 and a fifty-two week high of $498.83. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 347.40, a price-to-earnings-growth ratio of 13.29 and a beta of 1.91. The business has a fifty day moving average of $385.16 and a 200-day moving average of $420.14. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. As a group, analysts predict that Tesla will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was 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 approximately $7,188,625.18. The trade was 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 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 value 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 trade represents a 43.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 53,804 shares of company stock valued at $20,865,598. 19.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently added to or reduced their stakes in the company. Narwhal Capital Management boosted its position in shares of Tesla by 32.8% in the third quarter. Narwhal Capital Management now owns 9,516 shares of the electric vehicle producer’s stock worth $4,232,000 after buying an additional 2,350 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Tesla by 29.6% in the third quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer’s stock worth $14,487,000 after buying an additional 7,446 shares during the period. Calamos Wealth Management LLC boosted its position in shares of Tesla by 5.9% in the fourth quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer’s stock worth $18,846,000 after buying an additional 2,341 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Tesla by 8.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 48,504 shares of the electric vehicle producer’s stock worth $21,571,000 after buying an additional 3,935 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its position in shares of Tesla by 26.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 18,032 shares of the electric vehicle producer’s stock worth $8,019,000 after buying an additional 3,724 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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About Tesla

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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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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