Royal Bank of Canada Boosts Tesla (NASDAQ:TSLA) Price Target to $315.00

Tesla (NASDAQ:TSLA) had its price objective raised by equities researchers at Royal Bank of Canada from $290.00 to $315.00 in a note issued to investors on Monday, January 6th, Marketbeat Ratings reports. The brokerage presently has an “underperform” rating on the electric vehicle producer’s stock. Royal Bank of Canada’s price objective would suggest a potential downside of 39.25% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Nomura reiterated a “neutral” rating on shares of Tesla in a research report on Thursday, October 3rd. Sanford C. Bernstein restated a “hold” rating and issued a $325.00 price objective on shares of Tesla in a research report on Friday, November 22nd. Oppenheimer upped their price objective on shares of Tesla from $356.00 to $385.00 in a research report on Thursday, October 24th. Roth Capital restated a “sell” rating and issued a $249.00 price objective on shares of Tesla in a research report on Monday, November 18th. Finally, Morgan Stanley restated a “hold” rating and issued a $250.00 price objective on shares of Tesla in a research report on Tuesday, December 24th. Nineteen investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $338.78.

Shares of TSLA opened at $518.50 on Monday. The company has a market capitalization of $93.45 billion, a P/E ratio of -90.65, a PEG ratio of 4.87 and a beta of 0.64. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.08 and a quick ratio of 0.73. Tesla has a one year low of $176.99 and a one year high of $547.41. The business’s 50 day simple moving average is $403.12 and its 200-day simple moving average is $294.14.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $1.86 EPS for the quarter, topping the consensus estimate of ($0.42) by $2.28. Tesla had a negative return on equity of 13.42% and a negative net margin of 3.39%. The business had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.48 billion. During the same period in the previous year, the business earned $2.90 EPS. Tesla’s revenue was down 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla will post -4.3 EPS for the current fiscal year.

In other Tesla news, SVP Andrew D. Baglino sold 2,366 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $313.25, for a total value of $741,149.50. Following the sale, the senior vice president now owns 3,288 shares in the company, valued at $1,029,966. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jerome M. Guillen sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $305.00, for a total transaction of $2,440,000.00. Following the completion of the sale, the insider now owns 16,973 shares in the company, valued at approximately $5,176,765. The disclosure for this sale can be found here. Insiders have sold 98,531 shares of company stock worth $33,791,753 over the last ninety days. Insiders own 24.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of TSLA. Alpha Windward LLC bought a new position in Tesla during the 4th quarter worth $36,000. Personal Wealth Partners raised its position in Tesla by 5,000.0% during the 3rd quarter. Personal Wealth Partners now owns 102 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Private Capital Group LLC raised its position in Tesla by 110.3% during the 2nd quarter. Private Capital Group LLC now owns 122 shares of the electric vehicle producer’s stock worth $42,000 after purchasing an additional 64 shares during the last quarter. AllSquare Wealth Management LLC bought a new position in Tesla during the 2nd quarter worth $28,000. Finally, HM Payson & Co. bought a new position in Tesla during the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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