The Tesla Motors’ (TSLA) Outperform Rating Reaffirmed at Robert W. Baird

The Tesla Motors’ (TSLA) Outperform Rating Reaffirmed at Robert W. Baird

Robert W. Baird restated their outperform rating on shares of Tesla Motors Inc. (NASDAQ:TSLA) in a report released on Thursday morning. They currently have a $338.00 target price on the electric vehicle producer’s stock.

A number of other analysts also recently issued reports on TSLA. Oppenheimer Holdings Inc. downgraded Tesla Motors from an outperform rating to a market perform rating and lowered their price target for the stock from $264.75 to $195.00 in a research report on Wednesday, June 22nd. Standpoint Research restated a sell rating and issued a $180.00 price target on shares of Tesla Motors in a research report on Wednesday, June 22nd. Barclays PLC restated an underweight rating and issued a $165.00 price target on shares of Tesla Motors in a research report on Wednesday, June 22nd. Pacific Crest restated a sector weight rating on shares of Tesla Motors in a research report on Wednesday, June 22nd. Finally, Royal Bank Of Canada restated a sector perform rating and issued a $242.00 price target on shares of Tesla Motors in a research report on Wednesday, June 22nd. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Tesla Motors has an average rating of Hold and an average price target of $246.30.

Shares of Tesla Motors (NASDAQ:TSLA) traded down 0.95% during midday trading on Thursday, hitting $198.34. 1,195,351 shares of the stock were exchanged. The firm’s 50-day moving average is $204.60 and its 200 day moving average is $220.98. Tesla Motors has a 52-week low of $141.05 and a 52-week high of $269.34. The firm’s market cap is $29.49 billion.

Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.55. The company earned $1.56 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.48) earnings per share. On average, analysts forecast that Tesla Motors will post ($0.93) earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in TSLA. Baillie Gifford & Co. increased its position in shares of Tesla Motors by 9.5% in the second quarter. Baillie Gifford & Co. now owns 13,066,791 shares of the electric vehicle producer’s stock valued at $2,773,818,000 after buying an additional 1,137,759 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Tesla Motors by 13.4% in the second quarter. Vanguard Group Inc. now owns 4,894,369 shares of the electric vehicle producer’s stock valued at $1,038,976,000 after buying an additional 578,459 shares during the last quarter. Bloom Tree Partners LLC acquired a new position in shares of Tesla Motors during the first quarter valued at $59,515,000. State Treasurer State of Michigan increased its position in shares of Tesla Motors by 224.0% in the second quarter. State Treasurer State of Michigan now owns 339,623 shares of the electric vehicle producer’s stock valued at $72,095,000 after buying an additional 234,802 shares during the last quarter. Finally, Blue Ridge Capital L.L.C. acquired a new position in shares of Tesla Motors during the second quarter valued at $40,596,000. 66.62% of the stock is owned by institutional investors and hedge funds.

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