Jefferies Raises Tesla Price Target to $195

Jefferies Financial Group has raised its price target for Tesla, Inc. (NASDAQ:TSLA) from $165.00 to $195.00, according to a research report distributed to investors on Monday. The firm continues to maintain a "hold" rating on the shares of the electric vehicle manufacturer.

This new price target suggests a possible downside of approximately 10.90% based on Tesla's stock performance at its previous close.

Recent Analyst Ratings

Several other financial institutions have also provided updates on Tesla's stock. For instance, Cantor Fitzgerald reaffirmed a "neutral" rating with a price target of $245.00, while TD Cowen increased their target from $160.00 to $180.00, also assigning a "hold" rating. Oppenheimer has maintained a "market perform" rating, and earlier this year, China Renaissance upgraded Tesla from a "hold" to a "buy," setting a target of $290.00. Piper Sandler also adjusted their target, increasing it from $300.00 to $310.00, along with an "overweight" rating. Overall, nine analysts have rated Tesla as a sell, seventeen have given it a hold rating, and thirteen have awarded a buy rating, leading to an average rating of "hold" and a consensus target price of $211.63 according to MarketBeat.com.

Tesla's Stock Movement

On Monday, Tesla shares noted a decline of $1.85 during trading, bringing the stock price to $218.85. This trading session saw a volume of around 46,982,145 shares compared to an average volume of 94,133,234 shares. Tesla’s market capitalization stands at approximately $699.15 billion, with a price-to-earnings ratio of 61.47. The company's PEG ratio is 6.31, along with a beta of 2.29. Within the past year, Tesla reached a low of $138.80 and a high of $271.00. The company's financial health is reflected with a debt-to-equity ratio of 0.08, a quick ratio of 1.40, and a current ratio of 1.91. The 50-day moving average is $227.67, while the 200-day moving average is $205.65.

Quarterly Performance

Tesla reported its quarterly earnings on July 23, where it announced earnings per share (EPS) of $0.52, which was below analysts' expectations of $0.62. The company's revenue for the quarter reached $25.50 billion, exceeding forecasts of $24.38 billion. Year-over-year, Tesla's revenue reflected a 2.3% increase. In the same quarter last year, the company had an EPS of $0.78. Analysts are predicting that Tesla will achieve an EPS of 1.75 for the current fiscal year.

Insider Activities

In related news, Tesla's Chief Financial Officer, Vaibhav Taneja, sold 8,000 shares on September 23 at an average price of $250.00, generating approximately $2 million. Following this sale, Taneja retains 105,032 shares, valued at around $26.26 million. Additionally, Senior Vice President Xiaotong Zhu sold 297 shares on September 6 at an average price of $221.77. Over the past three months, insiders have unloaded a total of 74,661 shares worth roughly $16.66 million, with corporate insiders collectively owning about 20.70% of Tesla's stock.

Institutional Positioning

Recently, hedge funds have either increased or reduced their holdings in Tesla. For instance, the Vanguard Group raised its position by 1.7%, now owning approximately 233.6 million shares valued at around $41.06 billion. Sumitomo Mitsui Trust Holdings boosted its position by 12.9%, while Strategic Financial Concepts saw a dramatic increase of over 21,000%. Currently, approximately 66.20% of Tesla’s stock is held by institutional investors.

Company Overview

Tesla, Inc. is involved in designing, developing, manufacturing, leasing, and selling electric vehicles and energy generation and storage systems across the globe, including the U.S. and China. Tesla operates in two segments: Automotive, which includes electric vehicles and various automotive services, and Energy Generation and Storage.

Tesla, Jefferies, PriceTarget