Guggenheim Issues Positive Forecast for Tesla (NASDAQ:TSLA) Stock Price

Tesla (NASDAQ:TSLA) had its price target increased by stock analysts at Guggenheim from $156.00 to $175.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sell” rating on the electric vehicle producer’s stock. Guggenheim’s price target would suggest a potential downside of 55.04% from the company’s previous close.

Other analysts have also issued reports about the stock. Truist Financial upped their price objective on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Stifel Nicolaus increased their target price on Tesla from $287.00 to $411.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, UBS Group boosted their price target on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Nine investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $245.84.

Tesla Price Performance

Shares of TSLA stock opened at $389.22 on Thursday. The company has a market capitalization of $1.25 trillion, a P/E ratio of 106.64, a P/E/G ratio of 11.62 and a beta of 2.36. The company’s 50-day simple moving average is $282.96 and its two-hundred day simple moving average is $236.89. Tesla has a one year low of $138.80 and a one year high of $389.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

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

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 520,280 shares of company stock valued at $170,418,640. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors have recently modified their holdings of the business. Valley Wealth Managers Inc. acquired a new stake in Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% in 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 in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth $29,000. Clean Yield Group lifted 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 purchasing an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at about $35,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Company Profile

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.