Analysts upwardly revised their ratings and price targets on Tesla Motors Inc (TSLA), Mobileye NV (MBLY), and Cyberark Software Ltd (CYBR)
Analysts are weighing in on electric car concern
Tesla Motors Inc (NASDAQ:TSLA), tech stock
Mobileye NV (NYSE:MBLY), and cybersecurity firm
Cyberark Software Ltd (NASDAQ:CYBR). Here's a quick roundup of today's bullish brokerage notes on TSLA, MBLY, and CYBR.
- TSLA shrugged off reports of an investigation into a fatal accident involving its Model S sedan Friday to finish 2% higher at $216.50. However, the shares are down 3.3% ahead of the bell, as Tesla Motors Inc's lower-than-expected second-quarter delivery numbers appear to be sparking concern among speculators. Nevertheless, Baird reiterated its "outperform" rating and $338 price target -- in never-before-seen territory. Most analysts remain skeptical toward TSLA, though, with 75% maintaining a "hold" or worse suggestion.
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Baird also chimed in on MBLY, boosting its price target to $55 from $50, while RBC Capital also raised its price target to $53 from $47. This follows last week's well-received news of a big blue-chip partnership, which helped send shares of MBLY to a year-to-date high of $49. While MBLY eventually settled the week at $47.11 -- up 11.4% on the year -- the stock is down 0.9% in electronic trading, amid broad-market headwinds. Short sellers are likely keeping a close eye on this price action. Short interest jumped 14.3% during the last two reporting periods, and now accounts for roughly one-quarter of Mobileye NV's available float.
- CYBR is 2.6% higher ahead of the bell, after Barclays upgraded the stock's rating to "overweight" from "equal weight" and raised its price target to $60 from $44. Additionally, Cyberark Software Ltd unveiled changes to its board of directors. The shares have been rallying off their mid-February annual low of $31.50, up 53.6% as of last Friday's close at $48.37. More upside could be on the horizon, too, should short sellers capitulate to CYBR's positive price action. A healthy 7.3% of the stock's float is sold short, or nearly three times the equity's average daily trading volume.
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