Fintel reports that on May 12, 2023, Wedbush reiterated coverage of Tesla (NASDAQ:TSLA) with a Outperform recommendation.
Analyst Price Forecast Suggests 7.41% Upside
As of May 11, 2023, the average one-year price target for Tesla is 184.84. The forecasts range from a low of 24.58 to a high of $294.00. The average price target represents an increase of 7.41% from its latest reported closing price of 172.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Tesla is 118,517MM, an increase of 37.75%. The projected annual non-GAAP EPS is 5.70.
What is the Fund Sentiment?
There are 3980 funds or institutions reporting positions in Tesla. This is an increase of 180 owner(s) or 4.74% in the last quarter. Average portfolio weight of all funds dedicated to TSLA is 0.98%, a decrease of 19.72%. Total shares owned by institutions decreased in the last three months by 2.94% to 1,529,031K shares. 
The put/call ratio of TSLA is 0.75, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 81,593K shares representing 2.57% ownership of the company. In it’s prior filing, the firm reported owning 79,449K shares, representing an increase of 2.63%. The firm decreased its portfolio allocation in TSLA by 55.96% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 62,049K shares representing 1.96% ownership of the company. In it’s prior filing, the firm reported owning 60,374K shares, representing an increase of 2.70%. The firm decreased its portfolio allocation in TSLA by 56.03% over the last quarter.
Geode Capital Management holds 49,110K shares representing 1.55% ownership of the company. In it’s prior filing, the firm reported owning 47,496K shares, representing an increase of 3.29%. The firm decreased its portfolio allocation in TSLA by 55.61% over the last quarter.
Capital World Investors holds 48,431K shares representing 1.53% ownership of the company. In it’s prior filing, the firm reported owning 90,162K shares, representing a decrease of 86.16%. The firm decreased its portfolio allocation in TSLA by 76.32% over the last quarter.
Invesco Qqq Trust, Series 1 holds 32,471K shares representing 1.02% ownership of the company. In it’s prior filing, the firm reported owning 27,508K shares, representing an increase of 15.28%. The firm decreased its portfolio allocation in TSLA by 44.28% over the last quarter.
Tesla Background Information
(This description is provided by the company.)
Tesla’s mission is to accelerate the world’s transition to sustainable energy. Since its founding in 2003, Tesla has broken new barriers in developing high-performance automobiles that are not only the world’s best and highest-selling pure electric vehicles—with long range and absolutely no tailpipe emissions—but also the safest, highest-rated cars on the road in the world. Beyond the flagship Model S sedan and the falcon-winged door Model X sports utility vehicle, Tesla also offers a smaller, simpler and more affordable mid-sized sedan, Model 3, which it is expected will truly propel electric vehicles into the mainstream. In addition, with the opening of the Gigafactory and the acquisition of SolarCity, Tesla now offers a full suite of energy products that incorporates solar, storage, and grid services. As the world’s only fully integrated sustainable energy company, Tesla is at the vanguard of the world’s inevitable shift towards a sustainable energy platform.
See all Tesla regulatory filings.
This story originally appeared on Fintel.