Tesla (TSLA): New Buy Recommendation for This Technology Giant

By Austin Angelo

In a report released yesterday, Vijay Rakesh from Mizuho Securities reiterated a Buy rating on Tesla (TSLAResearch Report), with a price target of $775.00. The company’s shares closed last Thursday at $661.75.

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 29.5% and a 70.6% success rate. Rakesh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Allegro MicroSystems, and Skyworks Solutions.

Tesla has an analyst consensus of Hold, with a price target consensus of $681.10, which is 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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Tesla’s market cap is currently $635.2B and has a P/E ratio of 1057.10. The company has a Price to Book ratio of 29.26.

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.