Citigroup Increases Tesla (NASDAQ:TSLA) Price Target to $182.00

Tesla (NASDAQ:TSLA) had its target price raised by analysts at Citigroup from $180.00 to $182.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the electric vehicle producer’s stock. Citigroup’s target price suggests a potential upside of 6.95% from the stock’s current price.

Several other research firms also recently commented on TSLA. TD Cowen decreased their target price 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. KGI Securities reissued a “neutral” rating and set a $213.00 price objective (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. The Goldman Sachs Group dropped their target price on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Canaccord Genuity Group cut their target price on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday. Eight equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $186.70.

Tesla Trading Up 5.0 %

NASDAQ TSLA opened at $170.18 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The business has a 50 day moving average price of $175.67 and a 200-day moving average price of $208.64. The company has a market cap of $541.99 billion, a price-to-earnings ratio of 43.41, a P/E/G ratio of 3.82 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results 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 14.37% and a return on equity of 13.68%. The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter last year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities analysts expect that Tesla will post 1.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was 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 approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 over the last quarter. 25.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently bought and sold shares of TSLA. Wyrmwood Management LLC bought a new position in shares of Tesla in the fourth quarter worth $25,000. Lam Group Inc. bought a new position in Tesla in the 4th quarter worth about $25,000. Mendota Financial Group LLC raised its holdings in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV boosted its position in shares of Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.