Tesla (NASDAQ:TSLA) Price Target Raised to $370.00

Tesla (NASDAQ:TSLA) had its price objective boosted by Barclays from $360.00 to $370.00 in a report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the electric vehicle producer’s stock.

Several other research analysts have also weighed in on the stock. Erste Group Bank upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. Royal Bank Of Canada lifted their target price on Tesla from $475.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Zacks Research upgraded Tesla from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Glj Research reissued a “sell” rating on shares of Tesla in a report on Friday, June 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research note on Friday, April 24th. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $408.07.

Tesla Trading Down 0.9%

TSLA opened at $391.06 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. Tesla has a fifty-two week low of $297.82 and a fifty-two week high of $498.83. The company has a market cap of $1.47 trillion, a price-to-earnings ratio of 358.77, a price-to-earnings-growth ratio of 14.39 and a beta of 1.80. The firm has a 50 day simple moving average of $410.37 and a 200 day simple moving average of $406.18.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. On average, sell-side analysts anticipate that Tesla will post 1.3 earnings per share for the current year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the sale, the director directly owned 48,399 shares of the company’s stock, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the transaction, the chief financial officer owned 22,039 shares in the company, valued at $8,864,085.80. The trade was a 10.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 32,015 shares of company stock worth $12,383,640 over the last 90 days. 19.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently made changes to their positions in the business. Networth Advisors LLC bought a new stake in Tesla during the fourth quarter worth about $26,000. Chapman Financial Group LLC bought a new stake in Tesla during the second quarter valued at approximately $26,000. Davidson Capital Management Inc. lifted its position in shares of Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 27 shares in the last quarter. Friedenthal Financial boosted its holdings in Tesla by 66.7% in the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 30 shares during the period. Finally, Prism Advisors Inc. purchased a new stake in Tesla during the 4th quarter valued at approximately $30,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s stronger-than-expected vehicle deliveries last quarter support the case that demand remains resilient, and the company may also benefit from tighter global emissions rules that could accelerate EV adoption. Tesla’s Delivery Surprise Was Big—Earnings Need to Be Bigger
• Positive Sentiment: Investor interest is high ahead of the July 22 earnings call, with questions focused on robotaxi progress, Optimus, Cybercab, and Elon Musk’s comments, which could provide a catalyst if Tesla offers credible updates. Tesla Q2 Earnings: Elon Musk’s Pay Package, Cybercab and Optimus Lead Top Investor Questions
• Positive Sentiment: Some analysts remain constructive, noting Tesla is positioned to benefit from EV adoption trends and long-term software/autonomy opportunities. Tesla Rides Tightening Global Emission Standards for EV Thrust

About Tesla

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.