Tesla (TSLA) Gets a Buy from RBC Capital

RBC Capital analyst Tom Narayan maintained a Buy rating on Tesla (TSLAResearch Report) today and set a price target of $217.00. The company’s shares closed today at $184.31.

Narayan covers the Consumer Goods sector, focusing on stocks such as Mercedes-Benz Group, Stellantis, and Bayerische Motoren Werke Aktiengesellschaft. According to TipRanks, Narayan has an average return of 6.4% and a 50.71% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tesla with a $219.15 average price target, which is a 18.90% upside from current levels. In a report released yesterday, Barclays also assigned a Buy rating to the stock with a $230.00 price target.

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Based on Tesla’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $24.32 billion and a net profit of $3.71 billion. In comparison, last year the company earned a revenue of $17.72 billion and had a net profit of $2.33 billion

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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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