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Tesla (TSLA) Received its Third Buy in a Row

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After Argus Research and Deutsche Bank gave Tesla (NASDAQ: TSLA) a Buy rating last month, the company received another Buy, this time from Wedbush. Analyst Daniel Ives maintained a Buy rating on Tesla today and set a price target of $1400.00. The company’s shares closed last Monday at $872.25.

According to TipRanks.com, Ives is a top 100 analyst with an average return of 29.2% and a 64.8% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Consensus Cloud Solutions, and Palo Alto Networks.

Tesla has an analyst consensus of Moderate Buy, with a price target consensus of $1074.69, representing a 18.8% upside. In a report issued on January 12, New Street also maintained a Buy rating on the stock with a $1580.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

Based on Tesla’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $13.76 billion and net profit of $1.62 billion. In comparison, last year the company earned revenue of $8.77 billion and had a net profit of $300 million.

Based on the recent corporate insider activity of 94 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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