Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Tesla (NASDAQ:TSLA) had its price target upped by investment analysts at Morgan Stanley from $400.00 to $430.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the electric vehicle producer’s stock. Morgan Stanley’s target price would suggest a potential upside of 8.49% from the company’s previous close.

TSLA has been the topic of several other reports. Royal Bank of Canada boosted their price target on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Guggenheim boosted their target price on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research report on Thursday, October 24th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Finally, Truist Financial reaffirmed a “hold” rating and set a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $296.60.

Tesla Stock Performance

Shares of TSLA stock opened at $396.36 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $382.71 and a two-hundred day simple moving average of $284.69. Tesla has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market capitalization of $1.27 trillion, a PE ratio of 108.59, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS 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 period in the previous year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts forecast that Tesla will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 over the last three months. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the company. 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 worth $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter worth $29,000. Clean Yield Group raised its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter worth about $35,000. Finally, M&R Capital Management Inc. raised its stake in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.

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.