Tesla Motors Coverage Initiated by Analysts at Pacific Crest (TSLA)

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Equities researchers at Pacific Crest initiated coverage on shares of Tesla Motors (NASDAQ:TSLA) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $316.00 price target on the stock. Pacific Crest’s price objective points to a potential upside of 26.94% from the company’s current price.

In other Tesla Motors news, Director Kimbal Musk sold 4,287 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $234.46, for a total value of $1,005,130.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

A number of other firms have also recently commented on TSLA. Analysts at JPMorgan Chase & Co. raised their price target on shares of Tesla Motors from $163.00 to $170.00 in a research note on Friday, August 1st. They now have a “neutral” rating on the stock. Separately, analysts at Morgan Stanley reiterated a “buy” rating on shares of Tesla Motors in a research note on Wednesday, July 30th. Finally, analysts at Zacks downgraded shares of Tesla Motors from an “outperform” rating to an “underperform” rating in a research note on Wednesday, July 2nd. They now have a $218.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $222.00.

Shares of Tesla Motors (NASDAQ:TSLA) opened at 248.9301 on Tuesday. Tesla Motors has a 52-week low of $116.10 and a 52-week high of $265.00. The stock’s 50-day moving average is $227.8 and its 200-day moving average is $213.4. The company’s market cap is $30.930 billion.

Tesla Motors (NASDAQ:TSLA) last announced its earnings results on Thursday, July 31st. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.07. The company had revenue of $857.50 million for the quarter, compared to the consensus estimate of $810.57 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 55.3% on a year-over-year basis. On average, analysts predict that Tesla Motors will post $1.11 earnings per share for the current fiscal year.

Tesla Motors, Inc (NASDAQ:TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.

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