This eye-popping projection helped send Tesla stock up nearly 3% to hit $358.62 per share on Wednesday morning. They now have a $411.00 price target on the electric vehicle producer's stock. Philip Morris International had 37 analyst reports since August 24, 2015 according to SRatingsIntel. August 14 investment analysts at Baird kept the stock rating at "Outperform" and moved up the price target to $411.00 from $338.00. The firm earned "Overweight" rating on Tuesday, September 22 by Global Equities Research. Consensus earnings estimates are far from flawless, but they are watched by many investors and play an important role in measuring the appropriate valuation for a stock. Finally, BidaskClub downgraded Tesla from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th.
Among 31 analysts covering Tesla Motors Inc (NASDAQ:TSLA), 12 have Buy rating, 7 Sell and 12 Hold. The stock was sold at an average price of $254.44, for a total transaction of $1,424,864.00. The company has market cap of $56.37 billion.
Yet investors don't seem to care that the company isn't coming close to meeting its own production expectations at the moment. The stock last traded at $354.18 which is a tad under the 50 day moving average which is $354.47 and slightly over the 200 day moving average of $333.05.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported the earnings of $-1.33/Share in the last quarter where the estimated EPS by analysts was $-1.82/share. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company's market capitalization is $59.72 billion.
Tesla, Inc. (NASDAQ:TSLA) has shown an EPS growth of -13.10% in the last 5 years and sales growth of 102.80% for the same year while for the next 5 years; the EPS growth estimates 35.00%.Along with this Sales growth yoy (quarter over quarter) was considered as 119.70%.
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According to Tesla, Inc.'s latest 13F filing with the US Securities and Exchange Commission (SEC), institutional ownership is at 57.04%.
In other news, VP Eric Branderiz sold 99 shares of the business's stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,256 shares of company stock worth $16,756,628.
Hedge funds and other institutional investors have recently made changes to their positions in the company. During the same quarter in the prior year, the company earned ($1.06) EPS. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer's stock worth $109,000 after buying an additional 364 shares in the last quarter. It also reduced its holding in Frontier Communications Corp (Call) (NASDAQ:FTR) by 264,000 shares in the quarter, leaving it with 36,000 shares, and cut its stake in Herbalife Ltd (Call) (NYSE:HLF).
Tesla Motors, Inc. shares increased 0.84 percent over the past week and fell -2.04 percent over the previous month. (NASDAQ TSLA) traded up 2.7849% on Wednesday, reaching $357.8353. Finally, Jennison Associates LLC lifted its holdings in Tesla by 4.3% during the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer's stock valued at $122,000 after purchasing an additional 9 shares during the period. Also, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction that occurred on Tuesday, August 1st.
Tesla, Inc., formerly Tesla Motors, Inc., launched on July 1, 2003, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. Through its Retail Solutions North America segment, the Company provides technology solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers and other industry participants manage the acquisition, sale, financing, insuring, parts supply, fix and maintenance of vehicles.