Tesla (NASDAQ:TSLA) Shares Gap Up on Earnings Beat

Tesla, Inc. (NASDAQ:TSLAGet Rating)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $977.20, but opened at $1,047.45. Tesla shares last traded at $1,076.51, with a volume of 403,245 shares trading hands.

The electric vehicle producer reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.96. Tesla had a net margin of 10.25% and a return on equity of 20.36%. The company had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $17.84 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Tesla’s revenue for the quarter was up 80.5% on a year-over-year basis.

A number of equities research analysts have recently issued reports on TSLA shares. Wedbush started coverage on shares of Tesla in a research report on Monday, April 4th. They set a “buy” rating and a $1,400.00 price target for the company. StockNews.com started coverage on shares of Tesla in a research report on Thursday, March 31st. They set a “hold” rating for the company. Evercore ISI lifted their price target on shares of Tesla from $750.00 to $900.00 in a research report on Tuesday, January 4th. Credit Suisse Group lifted their price target on shares of Tesla from $1,025.00 to $1,125.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Citigroup lifted their price target on shares of Tesla from $313.00 to $375.00 and gave the company a “sell” rating in a research report on Thursday. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $960.41.

In other news, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction dated Thursday, January 27th. The stock was sold at an average price of $933.56, for a total value of $3,267,460.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 897 shares of the company’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $845.39, for a total value of $758,314.83. The disclosure for this sale can be found here. Insiders sold 67,871 shares of company stock valued at $61,335,952 in the last ninety days. Company insiders own 25.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. Paragon Capital Management Ltd purchased a new position in Tesla in the fourth quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Tesla during the third quarter valued at approximately $27,000. AllSquare Wealth Management LLC raised its stake in Tesla by 766.7% during the fourth quarter. AllSquare Wealth Management LLC now owns 26 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 23 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Tesla during the fourth quarter valued at approximately $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Tesla during the fourth quarter valued at approximately $32,000. 40.64% of the stock is owned by hedge funds and other institutional investors.

The company has a 50 day simple moving average of $937.35 and a 200-day simple moving average of $982.04. The stock has a market cap of $1.01 trillion, a price-to-earnings ratio of 205.11, a PEG ratio of 4.22 and a beta of 2.08. The company has a quick ratio of 1.08, a current ratio of 1.38 and a debt-to-equity ratio of 0.17.

Tesla Company Profile (NASDAQ:TSLA)

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.

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