Tesla (NASDAQ:TSLA) Given New $275.00 Price Target at Evercore ISI

Tesla (NASDAQ:TSLA) had its price objective boosted by analysts at Evercore ISI from $195.00 to $275.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “in-line” rating on the electric vehicle producer’s stock. Evercore ISI’s price target would suggest a potential downside of 33.00% from the stock’s current price.

A number of other research analysts also recently commented on TSLA. Truist Financial reaffirmed a “hold” rating and set a $360.00 target price on shares of Tesla in a report on Thursday. Royal Bank of Canada increased their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $283.39.

Tesla Stock Up 8.2 %

Shares of NASDAQ:TSLA opened at $410.44 on Friday. The firm has a market cap of $1.32 trillion, a PE ratio of 112.45, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company has a fifty day simple moving average of $362.37 and a 200 day simple moving average of $273.14. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Tesla will post 1.99 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 514,886 shares of company stock worth $169,393,831. Insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently bought and sold shares of TSLA. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the third quarter worth approximately $29,000. Clean Yield Group lifted its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter valued at $26,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter worth $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.