In a report released yesterday, Frank Schwope from Norddeutsche Landesbank maintained a Sell rating on Tesla (TSLA), with a price target of $240.00. The company’s shares closed last Tuesday at $872.79, close to its 52-week high of $900.40.
According to TipRanks.com, Schwope is ranked #7220 out of 7271 analysts.
Currently, the analyst consensus on Tesla is a Hold with an average price target of $609.00, implying a -27.9% downside from current levels. In a report issued on January 28, Needham also assigned a Sell rating to the stock.
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Based on Tesla’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $8.77 billion and net profit of $331 million. In comparison, last year the company earned revenue of $6.3 billion and had a net profit of $143 million.
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Tesla, Inc. engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture and sale of electric vehicles. The Energy Generation and Storage segment includes the design, manufacture, installation, sale, and lease of stationary energy storage products and solar energy systems, and sale of electricity generated by its solar energy systems to customers. It develops energy storage products for use in homes, commercial facilities and utility sites. The company was founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003 and is headquartered in Palo Alto, CA.
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