FBN Securities Reiterates a Buy Rating on Tesla Motors

By George MacDonald

In a report released today, Shebly Seyrafi from FBN Securities reiterated a Buy rating on Tesla Motors (NASDAQ: TSLA), with a price target of $275. The company’s shares opened today at $230.61.

According to TipRanks.com, Seyrafi is a 3-star analyst with an average return of 0.5% and a 51.5% success rate. Seyrafi covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Dot Hill Systems Corp., and Concur Technologies.

Currently, the analyst consensus on Tesla Motors is Hold and the average price target is $248.50, representing a 7.8% upside.

In a report issued on July 21, Goldman Sachs also reiterated a Buy rating on the stock.

Based on Tesla Motors` latest earnings report from March 31, the company posted quarterly revenue of $1.15B and quarterly net profit of -$282.3M. In comparison, last year the company earned revenue of $955M and had a net profit of -$184.2M.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2016, Kimbal Musk, a a Director at TSLA sold 460 shares for a total of $103,210.

Tesla Motors, Inc. engages in the designing, development, manufacturing and selling of electric vehicles and electric power train components. Its products include electric vehicles such as the Model S, Model X and the Tesla Roadster. The company was founded by Jeffrey B. Straubel, Elon Reeve Musk and Marc Tarpenning on July 1, 2003 and is headquartered in Palo Alto, CA.