Berenberg Bank Reaffirms “Buy” Rating for Tesla (TSLA)

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Berenberg Bank reissued their buy rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Thursday morning. They currently have a $500.00 target price on the electric vehicle producer’s stock.

A number of other equities analysts have also weighed in on TSLA. Nomura reaffirmed a buy rating and set a $420.00 target price on shares of Tesla in a research report on Thursday, March 29th. Vertical Group began coverage on Tesla in a research report on Tuesday, April 10th. They set a sell rating and a $84.00 target price on the stock. Jefferies Financial Group raised Tesla from an underperform rating to a hold rating and set a $250.00 target price on the stock in a research report on Monday, April 2nd. Guggenheim set a $430.00 target price on Tesla and gave the stock a buy rating in a research report on Tuesday, May 29th. Finally, Goldman Sachs Group lowered their target price on Tesla from $205.00 to $195.00 and set a sell rating on the stock in a research report on Tuesday, April 10th. Eleven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $299.36.

Shares of Tesla opened at $342.95 on Thursday, according to MarketBeat.com. Tesla has a 52-week low of $244.59 and a 52-week high of $389.61. The company has a current ratio of 0.74, a quick ratio of 0.44 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $58.23 billion, a price-to-earnings ratio of -29.87 and a beta of 0.88.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, May 2nd. The electric vehicle producer reported ($3.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.40) by ($0.95). Tesla had a negative net margin of 18.77% and a negative return on equity of 40.72%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period last year, the firm posted ($1.33) earnings per share. Tesla’s quarterly revenue was up 26.4% compared to the same quarter last year. equities analysts predict that Tesla will post -10.94 earnings per share for the current year.

In other Tesla news, VP John Douglas Field sold 3,000 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $359.27, for a total value of $1,077,810.00. Following the completion of the transaction, the vice president now owns 20,964 shares in the company, valued at approximately $7,531,736.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Elon Musk purchased 33,000 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were purchased at an average price of $298.50 per share, with a total value of $9,850,500.00. The disclosure for this purchase can be found here. 22.80% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Truewealth LLC bought a new position in shares of Tesla during the 4th quarter worth $102,000. Macroview Investment Management LLC bought a new position in shares of Tesla during the 1st quarter worth $106,000. Jacobi Capital Management LLC grew its stake in shares of Tesla by 154.4% during the 1st quarter. Jacobi Capital Management LLC now owns 430 shares of the electric vehicle producer’s stock worth $109,000 after acquiring an additional 261 shares during the period. Institutional & Family Asset Management LLC bought a new position in shares of Tesla during the 1st quarter worth $114,000. Finally, Avestar Capital LLC bought a new position in shares of Tesla during the 4th quarter worth $144,000. Institutional investors own 60.68% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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