Tesla (TSLA) Receives a Hold from Wedbush

By Carrie Williams

In a report released yesterday, Daniel Ives from Wedbush maintained a Hold rating on Tesla (TSLAResearch Report), with a price target of $230. The company’s shares closed yesterday at $217.10.

According to TipRanks.com, Ives is a 4-star analyst with an average return of 5.1% and a 55.1% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Uber Technologies Inc, and Pivotal Software Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Tesla with a $264.50 average price target, which is a 21.8% upside from current levels. In a report issued on June 4, Morgan Stanley also reiterated a Hold rating on the stock with a $230 price target.

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Based on Tesla’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $702 million. In comparison, last year the company had a GAAP net loss of $710 million.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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. engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through Automotive, and Energy Generation and Storage segments.