Tesla (TSLA) Gets a Hold Rating from Wedbush

Wedbush analyst Daniel Ives maintained a Hold rating on Tesla (TSLA) yesterday and set a price target of $425.00. The company’s shares closed last Monday at $502.13.

According to TipRanks.com, Ives is a 4-star analyst with an average return of 1.9% and a 51.7% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Slack Technologies, and Uber Technologies.

Tesla has an analyst consensus of Hold, with a price target consensus of $531.77, representing a 4.2% upside. In a report issued on March 16, Bernstein also reiterated a Hold rating on the stock with a $730.00 price target.

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Based on Tesla’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $7.38 billion and net profit of $105 million. In comparison, last year the company earned revenue of $7.23 billion and had a net profit of $140 million.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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