Tesla (TSLA) Got Some Good News

By Carrie Williams

Wedbush analyst Daniel Ives upgraded Tesla (TSLAResearch Report) to Buy yesterday and set a price target of $1000.00. The company’s shares closed last Thursday at $661.75.

According to TipRanks.com, Ives is a 5-star analyst with an average return of 31.6% and a 66.2% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Palo Alto Networks.

The word on The Street in general, suggests a Hold analyst consensus rating for Tesla with a $681.10 average price target, a -1.1% downside from current levels. In a report issued on March 22, Morgan Stanley also reiterated a Buy rating on the stock with a $880.00 price target.

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The company has a one-year high of $900.40 and a one-year low of $89.28. Currently, Tesla has an average volume of 35.59M.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TSLA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Tesla, Inc. manufactures and sells fully electric vehicles, solar energy generation systems and energy storage products. It also operates a network of vehicle service centers and Supercharger stations. The company operates through two segments: Automotive and Energy Generation & Storage. Founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003, the company is headquartered in Palo Alto, CA.