Oppenheimer Comments on Tesla, Inc.’s Q4 2022 Earnings (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLAGet Rating) – Investment analysts at Oppenheimer upped their Q4 2022 earnings per share estimates for Tesla in a note issued to investors on Monday, September 26th. Oppenheimer analyst C. Rusch now anticipates that the electric vehicle producer will post earnings per share of $0.83 for the quarter, up from their prior forecast of $0.82. The consensus estimate for Tesla’s current full-year earnings is $3.59 per share. Oppenheimer also issued estimates for Tesla’s FY2023 earnings at $3.41 EPS, FY2024 earnings at $4.62 EPS and FY2025 earnings at $5.81 EPS.

Tesla (NASDAQ:TSLAGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The electric vehicle producer reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The firm had revenue of $16.93 billion during the quarter, compared to the consensus estimate of $16.92 billion. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue was up 41.6% compared to the same quarter last year.

TSLA has been the subject of a number of other research reports. UBS Group raised Tesla from a “neutral” rating to a “buy” rating and set a $366.67 price target for the company in a report on Thursday, June 9th. JPMorgan Chase & Co. upped their price target on Tesla from $128.33 to $136.67 in a research report on Thursday, July 21st. Wolfe Research upgraded Tesla from a “peer perform” rating to an “outperform” rating and set a $360.00 price target on the stock in a research report on Tuesday, September 6th. Wells Fargo & Company upped their target price on Tesla from $273.33 to $276.67 and gave the company an “equal weight” rating in a research report on Thursday, July 21st. Finally, Argus reaffirmed a “buy” rating and set a $374.00 price target on shares of Tesla in a research note on Friday, August 26th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $287.62.

Tesla Stock Performance

TSLA opened at $268.21 on Thursday. The business has a fifty day simple moving average of $290.06 and a 200 day simple moving average of $280.34. The company has a market capitalization of $833.60 billion, a PE ratio of 96.94, a price-to-earnings-growth ratio of 2.52 and a beta of 2.18. Tesla has a 1 year low of $206.86 and a 1 year high of $414.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.43 and a quick ratio of 1.06.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently made changes to their positions in the company. TFO TDC LLC acquired a new position in Tesla during the second quarter worth about $27,000. Horan Securities Inc. grew its holdings in shares of Tesla by 164.3% during the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 23 shares in the last quarter. Verity Asset Management Inc. purchased a new stake in Tesla in the first quarter valued at approximately $28,000. First Financial Corp IN purchased a new stake in Tesla in the first quarter valued at approximately $32,000. Finally, Greenspring Advisors LLC purchased a new stake in Tesla in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Insider Activity

In other news, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $300.59, for a total value of $1,127,212.50. Following the transaction, the chief financial officer now directly owns 192,777 shares in the company, valued at approximately $57,946,838.43. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Zachary Kirkhorn sold 3,750 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $300.59, for a total value of $1,127,212.50. Following the sale, the chief financial officer now directly owns 192,777 shares in the company, valued at approximately $57,946,838.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 3,500 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $791.50, for a total transaction of $2,770,250.00. Following the completion of the transaction, the senior vice president now directly owns 20,567 shares in the company, valued at $16,278,780.50. The disclosure for this sale can be found here. Insiders sold a total of 70,250 shares of company stock valued at $37,217,025 in the last 90 days. Company insiders own 25.10% of the company’s stock.

Tesla Company Profile

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Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits.

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