Tesla (NASDAQ:TSLA) Price Target Raised to $195.00

Tesla (NASDAQ:TSLA) has experienced an upward adjustment in its price target as stock analysts from Jefferies Financial Group have increased their forecast from $165.00 to $195.00. This change was reported in a recent document shared with clients and investors on Monday.

Currently, Jefferies maintains a 'hold' rating on Tesla's stock. This updated target price suggests a potential decline of 10.90% based on Tesla's last closing price.

Other Analyst Opinions

Several other research firms have also recently provided updates on Tesla’s stock. For instance, Cantor Fitzgerald reaffirmed a 'neutral' rating and set a price target of $245.00 on October 7th. Meanwhile, TD Cowen lifted their target from $160.00 to $180.00, retaining their 'hold' rating from July 3rd. Oppenheimer has reiterated a 'market perform' rating as of October 8th. China Renaissance took a bullish stance, upgrading their rating from 'hold' to 'buy' with a price target of $290.00 following a report on July 5th. Piper Sandler also updated its forecast, raising the price target from $300.00 to $310.00 while marking the rating as 'overweight' on September 25th.

In total, there have been nine analysts giving 'sell' ratings, seventeen categorizing it as 'hold' and thirteen issuing 'buy' ratings. As per data from MarketBeat.com, the average rating for Tesla stands at 'Hold' with a consensus price target of $211.63.

Tesla Stock Performance Overview

On Monday, Tesla’s stock traded down by $1.85, bringing the price to $218.85. Throughout the day, about 46.98 million shares changed hands, which is lower than the average trading volume of approximately 94.13 million shares. Tesla holds a market capitalization of $699.15 billion and has a price-to-earnings ratio of 61.47 with a PEG ratio of 6.31. Furthermore, the stock has shown high volatility with a beta of 2.29. The 12-month low for Tesla is recorded at $138.80, while the 12-month high stands at $271.00. The company also maintains a debt-to-equity ratio of 0.08, with a quick ratio of 1.40 and a current ratio of 1.91. Currently, the 50-day moving average for Tesla is $227.67 and the 200-day moving average is at $205.65.

Recent Earnings Report

Tesla last disclosed its quarterly earnings on July 23rd, reporting earnings of $0.52 per share for the quarter which fell short of the consensus estimate of $0.62 by $0.10. The company achieved revenues of $25.50 billion, outpacing analyst expectations of $24.38 billion. Tesla's net margin was recorded at 13.00% with a return on equity of 10.41%. Moreover, the revenue represented a year-over-year growth of 2.3%. For the current fiscal year, analysts predict that Tesla will post an earning of 1.75 per share.

Insider Trading Activity

Regarding insider trading activities, CFO Vaibhav Taneja sold 8,000 shares of Tesla on September 23rd at an average price of $250.00, which totals to $2,000,000.00. After this transaction, he still owns 105,032 shares valued at approximately $26.26 million, indicating no change in ownership percentage. These details were recorded in an SEC filing. Additionally, Senior Vice President Xiaotong Zhu sold 297 shares on September 6th at an average price of $221.77 amounting to $65,865.69. Post-transaction, Zhu holds 67,491 shares valued at around $14.97 million. Over the last three months, insiders have sold a total of 74,661 shares, valued at approximately $16.66 million, and corporate insiders now own around 20.70% of the company's stock.

Institutional Holdings in Tesla

Hedge funds have been active in adjusting their positions in Tesla. Vanguard Group Inc. increased its stake in the first quarter by 1.7%, now owning 233,602,120 shares valued at about $41.06 billion after acquiring an additional 3,795,748 shares. In the same vein, Sumitomo Mitsui Trust Holdings Inc. raised its holdings by 12.9%, currently owning 9,849,425 shares valued at $1.73 billion, following a purchase of 1,125,329 shares in the recent quarter. Strategic Financial Concepts LLC made a substantial increase in their holdings by 21,816.0% during the second quarter, acquiring an additional 5,875,484 shares and now owning 5,902,416 shares valued around $1.17 billion. Similarly, ARK Investment Management LLC raised its position by 2.6% with a total of 5,314,395 shares now valued at about $1.05 billion. Overall, approximately 66.20% of Tesla's stock is held by hedge funds and institutional investors.

About Tesla, Inc.

Tesla, Inc. is engaged in designing, developing, and manufacturing electric vehicles, alongside energy generation and storage systems, both in the United States and internationally. Tesla operates through two main segments: Automotive and Energy Generation & Storage. In the Automotive segment, the company offers electric vehicles and sells automotive regulatory credits, in addition to providing non-warranty after-sales services, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

Tesla, Stocks, Finance