Robert W. Baird Reiterates “Outperform” Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating restated by analysts at Robert W. Baird in a research note issued on Wednesday, Benzinga reports. They currently have a $280.00 price target on the electric vehicle producer’s stock. Robert W. Baird’s price objective would indicate a potential upside of 86.75% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Sanford C. Bernstein dropped their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. Citigroup dropped their price objective on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Piper Sandler dropped their price objective on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Truist Financial dropped their target price on shares of Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $194.70.

Tesla Price Performance

Shares of TSLA opened at $149.93 on Wednesday. Tesla has a fifty-two week low of $148.70 and a fifty-two week high of $299.29. The firm’s 50 day moving average price is $179.45 and its 200 day moving average price is $212.21. The company has a market cap of $477.50 billion, a P/E ratio of 34.79, a PEG ratio of 4.15 and a beta of 2.39. 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 (NASDAQ:TSLA) last announced its quarterly earnings data 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 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts forecast that Tesla will post 1.97 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale 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 stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 in the last 90 days. 25.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently added to or reduced their stakes in the business. Axiom Financial Strategies LLC boosted its position in shares of Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after acquiring an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after buying an additional 164,789 shares in the last quarter. MAS Advisors LLC lifted its position in Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after buying an additional 81 shares in the last quarter. Ergoteles LLC lifted its position in Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after buying an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Tesla by 6.8% during the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after buying an additional 4,593 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.