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Goldman Sachs Believes Tesla (TSLA) Still Has Room to Grow

In a report released today, Mark Delaney from Goldman Sachs maintained a Buy rating on Tesla (TSLAResearch Report), with a price target of $905.00. The company’s shares closed last Thursday at $894.00, close to its 52-week high of $900.40.

According to TipRanks.com, Delaney is a 4-star analyst with an average return of 13.0% and a 62.8% success rate. Delaney covers the Technology sector, focusing on stocks such as Keysight Technologies, National Instruments, and Velodyne Lidar.

The word on The Street in general, suggests a Hold analyst consensus rating for Tesla with a $756.25 average price target, implying a -11.7% downside from current levels. In a report issued on October 7, Wedbush also maintained a Buy rating on the stock with a $1000.00 price target.

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Based on Tesla’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $11.96 billion and net profit of $1.14 billion. In comparison, last year the company earned revenue of $6.04 billion and had a net profit of $104 million.

Based on the recent corporate insider activity of 60 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. 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.

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