Wedbush analyst Daniel Ives maintained a Hold rating on Tesla (TSLA) on July 30 and set a price target of $1800.00. The company’s shares closed last Thursday at $1489.58.
According to TipRanks.com, Ives is a 5-star analyst with an average return of 18.2% and a 64.2% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Palo Alto Networks.
Currently, the analyst consensus on Tesla is a Hold with an average price target of $1242.69, a -16.6% downside from current levels. In a report issued on July 17, Deutsche Bank also initiated coverage with a Hold rating on the stock.
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Based on Tesla’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.99 billion and net profit of $16 million. In comparison, last year the company earned revenue of $6.35 billion and had a GAAP net loss of $408 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TSLA in relation to earlier this year.
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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