Wedbush Reaffirms Their Hold Rating on Tesla (TSLA)

By Austin Angelo

In a report released today, Daniel Ives from Wedbush maintained a Hold rating on Tesla (TSLAResearch Report), with a price target of $475.00. The company’s shares closed last Thursday at $423.43.

According to, Ives is a 5-star analyst with an average return of 17.3% and a 60.1% 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 $312.73 average price target, a -24.8% downside from current levels. In a report issued on September 2, Merrill Lynch also reiterated a Hold rating on the stock with a $550.00 price target.

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Tesla’s market cap is currently $412.4B and has a P/E ratio of 1135.80. The company has a Price to Book ratio of 44.92.

Based on the recent corporate insider activity of 67 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.

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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 the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture and sale of electric vehicles. The Energy Generation and Storage segment includes the design, manufacture, installation, sale, and lease of stationary energy storage products and solar energy systems, and sale of electricity generated by its solar energy systems to customers. It develops energy storage products for use in homes, commercial facilities and utility sites. The company was founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003 and is headquartered in Palo Alto, CA.