Home Analyst Ratings Tesla gets a downgrade to Underperform from Exane BNP Paribas

Tesla [TSLA] gets a downgrade to Underperform from Exane BNP Paribas

Exane BNP Paribas took its Tesla [TSLA] rating to the equivalent of Underperform, and the price target ‎to 340.0, in a research note dated 2021-01-05. Other analysts also revised their coverage, with New ‎Street’s analysts downgrading the shares from “a Buy” rating to “a Neutral” rating in a research note to ‎investors issued in early December. Meanwhile, Goldman had raised its rating on TSLA to “Buy” from ‎the earlier “Neutral”, in a research note produced for clients December 03, 2020. In addition, there was ‎an upgrade from Morgan Stanley on November 18, 2020. The rater changed TSLA from “an Equal-‎weight” to “an Overweight”.

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Is Tesla Inc. ‎‎[NASDAQ:TSLA] a Good Buy Right Now?

It should be noted that TSLA technical indicators for ‎short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The ‎average signal changed from 100% Buy in the last week and compares with 100% Buy in the past ‎month. Data from Tesla Inc.’s Trend Spotter indicated that the signals were Strongest. The stock ‎current average is 55.74 million shares in the past 20 days and the short term average signal indicates a ‎‎100% Buy. In the last 50 days, the average trading volume was 44.87 million shares while the medium ‎term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-‎day average volume stands at 58.91 million shares.

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TSLA Price Performance

On Wall Street, ‎Tesla Inc. [NASDAQ:TSLA] finished Monday’s session up 3.42% at $729.77. The stock went up to ‎‎$744.4899 at the same session while its lowest single day price was $717.1895. In the last five days, it ‎saw a rise of about 10.28%, Tesla Inc. shares gained by almost 3.42% since the beginning of the year. ‎However, the share price has dropped to as low as 1.54% below its one year high. On 01/04/21, the ‎company shares recorded $744.49, the highest single-day price it has got to in the last 52-weeks and a ‎‎52-week low was seen on 01/04/21, the same year at $717.19. The company’s shares have inclined by ‎‎723.65% in the past year. The 50-day SMA achieved is $539.85 while the 200-day SMA is $335.92. ‎Volume dropped to 48.64 million from 49.65 million in the previous session.

Tesla Inc. [TSLA] ‎Valuation Measures

Notably, Tesla Inc. [TSLA] stock cannot be classified as a good candidate in ‎the listing of underestimated low-priced Auto Manufacturers companies to purchase soonest possible ‎with the prevailing 12-month PE ratio of 1445.09. The measure means the stock is exchanging at a ‎premium as compared to the 25.20x trailing earnings of the industry. It can be helpful for investors to ‎consider historical price-sales ratio, more specifically, a 24.55 PS value ratio is reported for the last one ‎year of reported earnings. That is higher than the industry average of 0.77 which means TSLA serve an ‎unattractive investment opportunity compared to its competitors.

TSLA Stock Support And ‎Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 716.48 level, ‎and in case of violation of this particular level, it will cause more drop to 703.18 level. On the upper ‎level, 757.78 is still the key resistance. The stock may increase to the subsequent resistance at 743.78. ‎The Relative Strength Index (RSI) pinned on the 14-day chart is 71.86, implying a overbought technical ‎stance while the MACD stands at 45.46, meaning price will increase in the next trading period. Percent ‎R indicator moved to 10.55%, implying bullish price movement. Stochastic %K at 89.35% suggest selling ‎the stock.

What is the short interest in Tesla Inc.?

Short interest in the Tesla Inc. stock has ‎surged, increasing by 2.67 million shares to total 45.23 million shares on Dec 14, 2020. The interest had ‎seen shares on Nov 12, 2020 stand at 47.9 million, data from Yahoo Finance shows. The decrease of -‎‎5.9% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) ‎moved to while the shorted shares account for just 5.95% of the overall float for the stock.

Tesla ‎Inc.’s Biggest Shareholders: Who Owns Tesla Inc. [TSLA]?

Filings by Capital Research & ‎Management Co showed that the firm now holds a total of 52,248,658 shares or roughly 5.51% of the ‎outstanding TSLA shares. This means their shares have reduced by -1,141,807 from the 52,248,658 the ‎investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, ‎Inc. updated stake is worth $23,544,670,657. Details in the latest 13F filings reveal that Baillie Gifford & ‎Co. disposed off their -41.03% stake valued at $19,699,429,266 while BlackRock Fund Advisors cut theirs ‎at $14,729,777,951. During the last quarter, Baillie Gifford & Co. liquidated -24,149,530 of its shares in ‎Tesla Inc. while BlackRock Fund Advisors sold -1,247,282 shares. The Jennison Associates LLC’s holdings ‎currently number 18,743,418 shares at $13678384153.9. According to the firm’s last 13F report, SSgA ‎Funds Management, Inc. shares in the company at filing stood at 15,754,590 shares, roughly ‎‎$8,942,305,284.

TSLA Earnings Forecast For The Current Quarter

Tesla Inc. [TSLA] is expected ‎to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the ‎company expected revenues of $10.09B and an earnings per share of $0.89 for Dec 2020. Looking ‎further ahead, the company is expected to report revenue of $9.57B at an EPS of $0.87 for Mar 2021. ‎The estimates represent upside of 46.40% and 67.20% in the company’s revenue and earnings per ‎share, respectively, on a year-on-year basis.

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TSLA Earnings Estimates For The Current Year

For the ‎financial year, Tesla Inc. [NASDAQ:TSLA] is expected to bring in revenue of $30.97B. The returns are ‎nearly $6.39 billion higher than the company’s actual revenue recorded in the fiscal year 2019. In terms ‎of EPS for the 2020, estimate put it at 2.3, higher than that of FY19 by $2.26. Estimates put this year’s ‎earnings growth at 5,650.00%, 68.70% for the next, and at an annual 396.48% over the next 5-year ‎period. As for sales, forecasts are for an increase of 26.00% in the current fiscal year and a further ‎‎46.40% over the following year.‎

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