Tesla (NASDAQ:TSLA) Announces Quarterly Earnings Results

by · The Markets Daily

Tesla (NASDAQ:TSLA – Get Free Report) issued its earnings results on Wednesday. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14, Briefing.com reports. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis.

Tesla Stock Up 21.9 %

TSLA stock opened at $260.48 on Friday. Tesla has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $832.14 billion, a PE ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The business’s 50-day simple moving average is $228.54 and its 200 day simple moving average is $206.41.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. HSBC reiterated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Canaccord Genuity Group boosted their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price target on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $218.18.

View Our Latest Stock Analysis on TSLA

Tesla Company Profile

(Get Free Report)

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

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