Tesla Price Target Increased to $195.00

Jefferies Financial Group has raised the price target for Tesla (NASDAQ:TSLA) from $165.00 to $195.00, according to a report published on Monday. The firm maintains a "hold" rating on Tesla's stock, suggesting that they believe the stock may not see much growth in the near future. The new target price reflects a downside potential of approximately 10.90% based on Tesla's previous closing price.

Recent Analyst Ratings

In recent weeks, several other brokerages have also updated their ratings and target prices for Tesla. For instance, Cantor Fitzgerald reaffirmed a "neutral" rating and set a price objective of $245.00 for the stock. TD Cowen increased its price target from $160.00 to $180.00 while maintaining a "hold" rating. On the other hand, China Renaissance upgraded Tesla from a "hold" to a "buy" rating, projecting a price target of $290.00. Additionally, Piper Sandler raised their price target from $300.00 to $310.00 and gave an "overweight" rating. Currently, analysts seem divided, with nine rating the stock as a sell, seventeen as a hold, and thirteen as a buy. The consensus target price among analysts stands at $211.63.

Current Stock Performance

On the trading day following the announcement, Tesla’s stock experienced a decline of $1.85, reaching $218.85. Approximately 46,982,145 shares traded hands, which is lower than its average trading volume of 94,133,234 shares. Currently, Tesla has a market capitalization of about $699.15 billion. The company has seen its stock reach a 12-month low of $138.80 and a high of $271.00.

Recent Earnings and Financials

Tesla's last quarterly earnings report was released on July 23rd. The company reported earnings of $0.52 per share, which was below the consensus estimate of $0.62. However, revenues of $25.50 billion surpassed expectations of $24.38 billion and had increased by 2.3% compared to the same quarter the previous year. Analysts predict that Tesla will see earnings of approximately $1.75 per share for the current fiscal year.

Insider Activity

In recent news regarding insider trading, Tesla's CFO Vaibhav Taneja sold 8,000 shares of the company's stock at an average price of $250.00. The total transaction was worth $2 million, leaving him with 105,032 shares valued at $26.26 million. In another transaction, SVP Xiaotong Zhu sold 297 shares at around $221.77. Insider sales indicate some level of caution but do not necessarily reflect the company's overall health.

Institutional Investment Trends

Recent trends show that hedge funds are actively trading Tesla shares, with significant stakes being added or adjusted. For instance, Vanguard Group increased their position by 1.7%, while Sumitomo Mitsui Trust Holdings raised their holdings by 12.9%. Notably, 66.20% of Tesla's stock is held by institutional investors, showcasing a strong interest from large financial entities.

About Tesla

Tesla, Inc. is known for its design, development, manufacturing, leasing, and selling of electric vehicles and energy systems globally, particularly in the USA and China. The company operates primarily through two segments: Automotive and Energy Generation and Storage.

Tesla, stock, finance