Time: 2024-07-10
Tesla ( NASDAQ : TSLA ) received an upgrade from research analysts at China Renaissance , changing the rating from " hold " to " buy " on Friday . The firm set a target price of 90.00 on Tesla 's stock , indicating a potential upside of 17.57 % from the current price . This upgrade comes after several other equity analysts also provided their insights on Tesla 's stock . Jefferies Financial Group , for example , lowered their target price from 85.00 to 65.00 and maintained a " hold " rating . On the other hand , Bank of America upgraded Tesla from a " neutral " rating to a " buy " rating with a price target of 20.00 . Overall , analysts have mixed views on Tesla , with seven rating the stock as sell , sixteen as hold , and twelve as buy.
In terms of financial performance , Tesla stock traded at 46.66 on Friday , with a trading volume of 54,275,086 shares . The company 's 50 - day and 200 - day simple moving averages are 84.10 and 91.70 , respectively . Tesla 's market capitalization stands at 86.65 billion , with a P / E ratio of 62.85 and a beta of 2.31 . When it comes to earnings , Tesla reported sh.35 earnings per share for the last quarter , in line with the consensus estimate . The company had revenue of 1.30 billion , slightly below the expected 2.15 billion.
Regarding insider activity , Director Robyn M. Denholm sold 93,705 shares of Tesla stock in May , while SVP Xiaotong Zhu sold 650 shares in June . These transactions were disclosed in filings with the SEC . Institutional investors have also been active in trading Tesla stock . Vanguard Group Inc. , for example , increased its position in Tesla by 1.7 % during the first quarter . Norges Bank and other institutional investors have also made significant moves in terms of their holdings in Tesla.
Tesla , Inc. is a company that designs , develops , manufactures , leases , and sells electric vehicles , as well as energy generation and storage systems . Operating in the United States , China , and internationally , Tesla is divided into two segments : Automotive and Energy Generation and Storage . While Tesla currently has a consensus rating of " Hold " and a target price of 92.71 , top analysts are recommending other stocks over Tesla . MarketBeat has identified five stocks that analysts believe are better buys at the moment.
In conclusion , Tesla 's recent upgrade from China Renaissance has sparked interest among investors and analysts . With mixed ratings and ongoing financial performance evaluations , Tesla continues to be a prominent player in the electric vehicle industry.
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