Wedbush Reiterates “Outperform” Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research note issued on Monday, Benzinga reports. They currently have a $275.00 price target on the electric vehicle producer’s stock. Wedbush’s price target suggests a potential upside of 50.04% from the stock’s previous close. Wedbush also issued estimates for Tesla’s Q4 2024 earnings at $0.58 EPS, Q2 2025 earnings at $0.70 EPS and Q4 2025 earnings at $0.80 EPS.

TSLA has been the topic of several other reports. 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 research report on Tuesday, April 9th. Redburn Atlantic began coverage on Tesla in a research report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price on the stock. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Royal Bank of Canada dropped their target price on Tesla from $294.00 to $293.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Finally, Sanford C. Bernstein dropped their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $184.32.

Tesla Trading Down 5.6 %

Tesla stock opened at $183.28 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla has a one year low of $138.80 and a one year high of $299.29. The stock has a market capitalization of $584.52 billion, a PE ratio of 46.76, a price-to-earnings-growth ratio of 4.45 and a beta of 2.40. The business’s fifty day moving average is $174.71 and its 200 day moving average is $206.29.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently bought and sold shares of the company. Mount Vernon Associates Inc. MD raised its position in Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after purchasing an additional 350 shares in the last quarter. Oak Ridge Investments LLC grew its holdings in Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after acquiring an additional 1,405 shares during the period. Corient Private Wealth LLC grew its holdings in Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after acquiring an additional 25,943 shares during the period. J.W. Cole Advisors Inc. grew its holdings in shares of Tesla by 16.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after buying an additional 6,615 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Tesla by 11.8% in the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after buying an additional 81,729 shares during the period. 66.20% of the stock is currently 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.