Tesla (NASDAQ:TSLA) had its target price hoisted by equities researchers at Sanford C. Bernstein from $265.00 to $325.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm presently has a “market perform” rating on the electric vehicle producer’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 6.38% from the stock’s previous close.

TSLA has been the subject of several other research reports. Piper Jaffray Companies set a $369.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research report on Thursday, June 7th. Jefferies Financial Group boosted their price objective on shares of Tesla from $250.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 8th. Morgan Stanley set a $376.00 price objective on shares of Tesla and gave the stock a “hold” rating in a research report on Friday, April 27th. Zacks Investment Research upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $327.00 price objective for the company in a research report on Tuesday, June 5th. Finally, BidaskClub downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. Eleven analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $316.31.

Shares of NASDAQ:TSLA opened at $305.50 on Thursday. The company has a market cap of $60.64 billion, a PE ratio of -26.61 and a beta of 0.65. The company has a quick ratio of 0.37, a current ratio of 0.73 and a debt-to-equity ratio of 2.01. Tesla has a twelve month low of $244.59 and a twelve month high of $389.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share for the quarter, topping the consensus estimate of ($3.61) by $0.55. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. The company’s revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.33) EPS. equities research analysts forecast that Tesla will post -10.77 EPS for the current year.

In other news, CEO Elon Musk acquired 55,000 shares of the company’s stock in a transaction on Tuesday, June 12th. The shares were bought at an average cost of $343.19 per share, with a total value of $18,875,450.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP John Douglas Field sold 3,000 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $359.27, for a total transaction of $1,077,810.00. Following the completion of the transaction, the vice president now directly owns 20,964 shares in the company, valued at $7,531,736.28. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwest Wealth Management LLC acquired a new position in Tesla in the 2nd quarter valued at $103,000. Macroview Investment Management LLC acquired a new position in Tesla in the 1st quarter valued at $106,000. Jacobi Capital Management LLC increased its stake in Tesla by 154.4% in the 1st quarter. Jacobi Capital Management LLC now owns 430 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 261 shares during the period. Institutional & Family Asset Management LLC acquired a new position in Tesla in the 1st quarter valued at $114,000. Finally, Stelac Advisory Services LLC acquired a new position in Tesla in the 2nd quarter valued at $114,000. 61.18% of the stock is currently owned by institutional investors.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, 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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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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