Tesla Stock Price Prediction by Robert W. Baird

Tesla (NASDAQ:TSLA – Free Report) has seen a significant change in its price target thanks to a recent research report by Robert W. Baird. The analyst raised the price target from $280.00 to $480.00, indicating strong confidence in the electric vehicle maker's future performance. Robert W. Baird currently rates Tesla's stock as 'outperform.'

In addition to Baird’s report, several other equities research analysts have assessed Tesla. For instance, Canaccord Genuity Group elevated their target price from $254.00 to $278.00 and assigned a 'buy' rating to the stock. Meanwhile, Morgan Stanley increased their price target from $310.00 to $400.00, also giving it an 'overweight' rating. The Goldman Sachs Group raised its target from $250.00 to $345.00 while maintaining a 'neutral' stance on the stock. Additionally, William Blair started to cover Tesla and assigned an 'outperform' rating. Barclays also adjusted their target, increasing it from $220.00 to $235.00 and assigning an 'equal weight' rating.

In total, the ratings for Tesla’s stock reflect a mix of opinions, with nine analysts suggesting 'sell,' fifteen recommending 'hold,' sixteen advising 'buy,' and one analyst giving a strong buy rating. Data from MarketBeat.com shows that Tesla has an average rating of 'Hold' and an average price target of $272.06.

Tesla Price Performance Details

As of Wednesday, shares of TSLA opened at $421.06. The stock has seen a 12-month low of $138.80 and a high of $488.54. In terms of financial health, Tesla boasts a current ratio of 1.84, a quick ratio of 1.37, and a low debt-to-equity ratio of 0.08. The company has both a 50-day moving average of $322.89 and a 200-day moving average of $255.91. With a market capitalization of approximately $1.35 trillion, Tesla's price-to-earnings ratio stands at 115.36, while its PEG ratio is 10.80 and it has a beta of 2.36.

Tesla’s latest earnings report, released on October 23rd, revealed earnings of $0.72 per share, which was higher than the consensus estimate of $0.58. The company reported revenues of $25.18 billion, although this was slightly below the expected $25.47 billion. Tesla’s net profit margin was reported at 13.07%, and the return on equity was 10.24%. Compared to the same quarter last year, their revenue increased by 7.8%. Analysts estimate Tesla will earn an average of $1.99 per share for the current fiscal year.

Insider Transactions

In insider news, Director Kimbal Musk sold 60,500 shares on November 1st, at an average price of $250.23, totaling approximately $15.14 million, which reduced his ownership by 3.73%. Following this sale, he now holds 1,563,220 Tesla shares valued at around $391.16 million. Additionally, Tesla’s CFO, Vaibhav Taneja, sold 2,606 shares on December 6th for $374.21 per share, amounting to about $975,191.26, reducing his ownership by 2.34%. In the last three months, insiders have sold 522,886 shares totaling over $171 million, with insiders owning 20.70% of the company’s stock.

Institutional Investor Activity

Several institutional investors have adjusted their positions in Tesla. World Investment Advisors LLC significantly raised their stake by 1,248.9% during the third quarter, now owning 199,229 shares worth $52.12 million after acquiring 184,459 additional shares. Destination Wealth Management increased its stake by 12.1% and now holds 12,597 shares valued at $3.3 million. Vinva Investment Management Ltd raised its position by 59.2% with 117,457 shares worth $30.59 million. MML Investors Services LLC grew its stake by 3.3%, now owning 309,382 shares worth $80.94 million. Oppenheimer & Co. Inc. also increased their position by 1.2% during the same period. Overall, about 66.20% of Tesla's stock is owned by institutional investors.

About Tesla

Tesla, Inc. is a renowned company engaged in designing, developing, manufacturing, leasing, and selling electric vehicles and energy systems across the United States and worldwide. They operate in two key segments: Automotive and Energy Generation and Storage. The Automotive segment not only produces electric vehicles but also sells automotive regulatory credits and offers various after-sales services.

In summary, Tesla is receiving close attention from analysts and investors alike, which points to a vibrant market standing and hopeful predictions for its future.

Tesla, Stock, Analyst