Morgan Stanley Reiterates “Overweight” Rating for Tesla Inc (TSLA)

Tesla Inc (NASDAQ:TSLA)‘s stock had its “overweight” rating reaffirmed by investment analysts at Morgan Stanley in a research note issued on Saturday. They currently have a $305.00 target price on the electric vehicle producer’s stock. Morgan Stanley’s price objective points to a potential downside of 0.20% from the stock’s current price.

A number of other brokerages have also weighed in on TSLA. Royal Bank of Canada lifted their price objective on shares of Tesla to $314.00 and gave the company a “sector perform” rating in a report on Thursday, February 23rd. Robert W. Baird lifted their price objective on shares of Tesla from $338.00 to $368.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Dougherty & Co decreased their price objective on shares of Tesla from $500.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 23rd. Cowen and Company set a $155.00 price objective on shares of Tesla and gave the company a “sell” rating in a report on Thursday, February 23rd. Finally, Zacks Investment Research lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Monday, February 13th. Eight equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $266.42.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

Shares of Tesla (NASDAQ:TSLA) traded up 1.02% on Friday, reaching $305.60. 4,504,076 shares of the company traded hands. Tesla has a 1-year low of $178.19 and a 1-year high of $313.73. The firm’s market capitalization is $49.41 billion. The stock has a 50-day moving average price of $274.79 and a 200 day moving average price of $232.49.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, February 22nd. The electric vehicle producer reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.26. Tesla had a negative net margin of 14.74% and a negative return on equity of 29.17%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the business earned ($0.87) EPS. The company’s quarterly revenue was up 88.2% compared to the same quarter last year. Analysts anticipate that Tesla will post ($1.63) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Morgan Stanley Reiterates “Overweight” Rating for Tesla Inc (TSLA)” was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://sportsperspectives.com/2017/04/21/tesla-inc-tsla-earns-overweight-rating-from-morgan-stanley-updated-updated.html.

In related news, Director Antonio J. Gracias sold 5,600 shares of the stock in a transaction on Monday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $1,424,864.00. Following the sale, the director now directly owns 5,600 shares of the company’s stock, valued at $1,424,864. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 2,191 shares of the stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $312.11, for a total transaction of $683,833.01. Following the sale, the director now directly owns 166,640 shares in the company, valued at $52,010,010.40. The disclosure for this sale can be found here. Insiders have sold 16,391 shares of company stock worth $4,399,594 over the last three months. 27.70% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in TSLA. FMR LLC increased its stake in shares of Tesla by 13.3% in the fourth quarter. FMR LLC now owns 22,050,401 shares of the electric vehicle producer’s stock worth $4,711,950,000 after buying an additional 2,582,730 shares during the period. Baillie Gifford & Co. increased its stake in shares of Tesla by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 13,289,548 shares of the electric vehicle producer’s stock worth $2,839,843,000 after buying an additional 454,467 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Tesla by 4.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,807,714 shares of the electric vehicle producer’s stock worth $572,858,000 after buying an additional 110,714 shares in the last quarter. State Street Corp boosted its position in Tesla by 6.9% in the fourth quarter. State Street Corp now owns 2,271,484 shares of the electric vehicle producer’s stock worth $485,388,000 after buying an additional 146,901 shares in the last quarter. Finally, Bamco Inc. NY boosted its position in Tesla by 7.7% in the third quarter. Bamco Inc. NY now owns 1,555,911 shares of the electric vehicle producer’s stock worth $317,452,000 after buying an additional 111,256 shares in the last quarter. 57.29% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

5 Day Chart for NASDAQ:TSLA

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

Latest News

Leave a Reply