Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Tesla (NASDAQ:TSLA) had its price target upped by analysts at Royal Bank of Canada from $249.00 to $313.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the electric vehicle producer’s stock. Royal Bank of Canada’s price target would suggest a potential downside of 1.99% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Piper Sandler increased their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Barclays upped their target price on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $230.18.

Tesla Stock Performance

TSLA stock traded up $8.17 during midday trading on Friday, reaching $319.35. 77,844,453 shares of the company were exchanged, compared to its average volume of 95,862,867. Tesla has a one year low of $138.80 and a one year high of $358.64. The firm has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.49, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. The business has a 50-day moving average price of $250.10 and a two-hundred day moving average price of $219.58. 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 released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the company posted $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Tesla will post 1.99 EPS for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the 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 directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. raised its position in shares of Tesla by 0.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after purchasing an additional 331 shares in the last quarter. M&G Plc bought a new position in shares of Tesla during the 1st quarter valued at about $2,509,000. Blue Barn Wealth LLC acquired a new stake in shares of Tesla during the 1st quarter valued at $261,000. Chiron Capital Management LLC lifted its holdings in shares of Tesla by 3.7% during the first quarter. Chiron Capital Management LLC now owns 2,193 shares of the electric vehicle producer’s stock valued at $386,000 after purchasing an additional 79 shares during the last quarter. Finally, Strait & Sound Wealth Management LLC increased its position in shares of Tesla by 2.7% in the first quarter. Strait & Sound Wealth Management LLC now owns 12,335 shares of the electric vehicle producer’s stock worth $2,154,000 after acquiring an additional 319 shares in the last quarter. 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.