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New Buy Rating for Tesla (TSLA), the Consumer Goods Giant

In a report released today, Daniel Ives from Wedbush maintained a Buy rating on Tesla (TSLAResearch Report), with a price target of $1400.00. The company’s shares closed last Thursday at $728.00.

According to TipRanks.com, Ives is a 5-star analyst with an average return of 14.4% and a 52.3% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Palo Alto Networks, and CyberArk Software.

Tesla has an analyst consensus of Moderate Buy, with a price target consensus of $975.39, which is a 39.1% upside from current levels. In a report issued on May 9, Morgan Stanley also reiterated a Buy rating on the stock with a $1300.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

Tesla’s market cap is currently $754.2B and has a P/E ratio of 98.78.

Based on the recent corporate insider activity of 95 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.

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