Tesla’s (TSLA) Outperform Rating Reiterated at Robert W. Baird

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reiterated by equities research analysts at Robert W. Baird in a note issued to investors on Wednesday, Benzinga reports. They currently have a $280.00 target price on the electric vehicle producer’s stock. Robert W. Baird’s target price points to a potential upside of 80.12% from the company’s previous close.

TSLA has been the subject of a number of other research reports. TD Cowen decreased their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Piper Sandler cut their target price on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. UBS Group cut their target price on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. JPMorgan Chase & Co. cut their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Finally, Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $197.15.

Tesla Stock Performance

Shares of TSLA traded down $1.66 during midday trading on Wednesday, reaching $155.45. The stock had a trading volume of 81,818,700 shares, compared to its average volume of 101,829,563. The firm has a 50 day simple moving average of $180.88 and a 200-day simple moving average of $213.04. Tesla has a one year low of $152.37 and a one year high of $299.29. The firm has a market cap of $495.08 billion, a PE ratio of 36.38, a P/E/G ratio of 4.25 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period last year, the business earned $1.07 EPS. The business’s revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla will post 1.98 EPS for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently added to or reduced their stakes in the business. Wyrmwood Management LLC bought a new stake in Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. bought a new stake in Tesla during the 4th quarter worth approximately $25,000. Alpha Paradigm Partners LLC bought a new stake in Tesla during the 3rd quarter worth approximately $27,000. Perkins Coie Trust Co grew its holdings in Tesla by 72.0% during the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 54 shares during the last quarter. Finally, Mendota Financial Group LLC grew its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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.