Jefferies Financial Group Raises Tesla Price Target to $195.00

Tesla (NASDAQ:TSLA) has seen its price target increase by analysts at Jefferies Financial Group, who have raised it from $165.00 to $195.00 in a research report issued to clients this Monday. The firm has maintained a 'hold' rating on the stock of this renowned electric vehicle manufacturer. This new price target suggests that there may be a potential downside of approximately 10.90% from Tesla's last closing price.

Other brokerages have also recently provided updates on Tesla's stock. For instance, Cantor Fitzgerald reiterated a 'neutral' rating and set a price objective of $245.00. Additionally, TD Cowen revised their price target up from $160.00 to $180.00 while also maintaining a 'hold' rating. Oppenheimer also reaffirmed a 'market perform' rating for Tesla shares.

In an earlier report by China Renaissance, analysts upgraded Tesla from a 'hold' to a 'buy' rating, establishing a target price of $290.00. Piper Sandler also raised their expectations for Tesla, increasing their price target from $300.00 to $310.00 while designating an 'overweight' rating on the stock.

As a whole, analysts have given mixed ratings for Tesla. Currently, nine analysts consider it a sell, seventeen recommend holding the stock, and thirteen suggest that it is a buy. According to data from MarketBeat.com, Tesla has an average rating of 'Hold' and a consensus target price of $211.63.

Tesla Stock Performance

On the day of the report, Tesla's stock traded down by $1.85, bringing the price to $218.85. During trading, 46,982,145 shares changed hands, which is lower than the average trading volume of 94,133,234 shares. Tesla's market capitalization stands at approximately $699.15 billion with a price-to-earnings ratio of 61.47.

The company's stock has witnessed considerable fluctuations over the past year, with a 12-month low of $138.80 and a high of $271.00. Currently, Tesla enjoys a debt-to-equity ratio of 0.08, a quick ratio of 1.40, and a current ratio of 1.91. Their 50-day moving average is $227.67, while the 200-day moving average is $205.65.

Earnings Report and Insider Activity

Tesla's last quarterly earnings report was released on July 23rd, where it reported earnings of $0.52 per share, falling short of analysts' expectations of $0.62 by ten cents. The company achieved revenues of $25.50 billion for that quarter, surpassing predictions that had estimated around $24.38 billion. In comparison to the previous year's quarter, Tesla's revenue increased by 2.3%. The firm's net margin stood at 13.00% and it registered a return on equity of 10.41%. Analysts expect the firm to post around 1.75 earnings per share for the current fiscal year.

In addition to the price target changes, recent insider trading activities have also come into focus. Tesla's Chief Financial Officer, Vaibhav Taneja, sold 8,000 shares of stock in September at an average price of $250.00, resulting in a transaction totaling $2 million. Post-sale, Taneja retains 105,032 shares estimated to be valued at $26.26 million. Similarly, Senior Vice President Xiaotong Zhu sold 297 shares in early September at an average sell price of $221.77, amounting to approximately $65,865.69. Corporate insiders now own about 20.70% of Tesla's total shares.

Institutional Trading Activity

Aside from insider trading, various hedge funds have adjusted their positions in Tesla recently. Vanguard Group increased its holdings by 1.7%, now owning over 233 million shares valued at nearly $41.06 billion after acquiring an additional 3.8 million shares. Other notable changes include Sumitomo Mitsui Trust Holdings raising its stake by 12.9%, ensuring they own nearly 9.85 million shares worth approximately $1.73 billion. A significant increase was also observed from Strategic Financial Concepts, which upped its holdings dramatically by 21,816.0% in the second quarter, now controlling 5.9 million shares valued at over $1.16 billion.

Overall, approximately 66.20% of Tesla's shares are currently held by institutional investors.

About Tesla

Tesla, Inc. is a leading player in the design, development, manufacture, lease, and sale of electric vehicles and energy generation and storage systems globally, including regions like the United States and China. The company functions under two primary segments: Automotive and Energy Generation and Storage. The Automotive segment is primarily focused on electric vehicle production but also involves the sale of automotive regulatory credits, after-sales services, used vehicles, and vehicle insurance among others.

Tesla, Stock, Price