The Analyst’s Perspective
Fintel reports that on June 26, 2024, Stifel initiated coverage of Tesla (NasdaqGS:TSLA) with a Buy recommendation.
Analyst Price Forecast Analysis
As of June 12, 2024, the average one-year price target for Tesla is $186.16. The forecasts range from a low of $23.09 to a high of $336.00, representing a potential decrease of 0.63% from the latest closing price of $187.35.
Revenue and Earnings Projections
The projected annual revenue for Tesla is $152.22 billion, marking an impressive increase of 60.67%. Additionally, the estimated annual non-GAAP EPS stands at $7.07.
Market Sentiment and Institutional Holdings
Currently, there are 4,202 funds or institutions reporting positions in Tesla, indicating a slight decrease of 255 owners or 5.72% in the last quarter. The average portfolio weight of all funds dedicated to TSLA has risen by 24.95% to 0.81%. Furthermore, the total shares owned by institutions decreased by 2.22% in the last three months to 1,517,926K shares.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares has increased its ownership in Tesla, now holding 85,113K shares representing 2.67% ownership of the company. In contrast, Capital World Investors reduced its stake by 4.96% over the last quarter, decreasing its portfolio allocation by 37.28%.
Tesla at a Glance
Tesla’s Mission: Tesla aims to accelerate the world’s transition to sustainable energy. Since its inception in 2003, Tesla has been at the forefront of developing high-performance electric vehicles known for their range, safety, and zero emissions. Their diverse product lineup includes models such as the Model S, Model X, and the affordable Model 3. With ventures like the Gigafactory and SolarCity acquisition, Tesla now offers a complete suite of energy solutions spanning solar, storage, and grid services.
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