Tesla Motors Inc (TSLA) is one of Friday’s notable stocks in decline, down more than 9 points, or 3.21%, to $276.71. The decline came a day after CEO Elon Musk made a cautious comment regarding TSLA’s near term valuation, saying investors often “get carried away” with the electric car company’s stock price.
Musk made his comments after announcing Nevada as the site for Tesla’s $5 billion battery plant, dubbed by Musk, the ‘Gigafactory’.[via CNBC]”I think our stock price is kind of high right now,” Musk said Thursday, responding to a question from CNBC at the news conference in Carson City. “If you care about the long term, Tesla, I think the stock is a good price. If you look at the short term, it is less clear.”
Tesla shares advanced to a new all-time high of $291.42/share at the close yesterday in New York. The stock has risen 84% this year and 63% year-over-year. Since its 2010 IPO priced at $17 a share, the stock has risen $257.51, or 1,341%.
Tesla’s market capitalization has zoomed to $35.80 billion.
Shares of TASER International Inc. (TASR) are up 3.5 percent Friday to $18.16 following a report from the Washington Times that says DC Police plan to “issue body-mounted cameras to a test group of officers beginning Oct. 1 as part of a six-month citywide pilot program to explore the technology.”
Another report says that the NYPD, the nation’s largest police force, is ready to begin testing sixty body mounted cameras made by TASER International.[via Benzinga]”It’s the next wave,” Commissioner William J. Bratton said of the cameras at a news conference Thursday.
TASR was also mentioned in a research note this morning from analysts at CRT Capital- who said the stock will likely hit the mid-upper $20 levels. The firms point out that if all NYPD officers were to use TASER’s product, it would translate in a significant revenue stream for the Scottsdale, Arizona-based company.
TASR has risen 14.36% this year and 48.12% year-over-year.
Shares of SanDisk Corp. (SNDK) are up by more than 2.50% to $98.62 in mid-day trading on Friday following a ratings upgrade to ‘Overweight’ from ‘Equal-weight’ at Morgan Stanley (MS). The firm said it upgraded shares of the developer of markets data storage products based on valuation and a solid NAND supply and demand balance for FY2015-FY2016.
Another firm came out with a report on Sandisk today. Sanford C. Bernstein said it sees SanDisk’s $1.1B acquisition of Fusion-io as a positive development for the Milpitas, California-based company. According to the firm, the merger plugs the gap in the Sandisk’s Enterprise SSD market and will accelerate its growth in this new market.
Sandisk shares are up 70% year-over-year and 39.78% year-to-date. The company has a market cap of $21.77 billion.
Shares of Google Inc (GOOG) are up more than 3 points to $585.21 in mid-day trading after the stock was added to ‘Conviction Buy List’ at Evercore.
On valuation-measures shares of Google have a trailing-12 P/E ratio of 30.65 and a price/sales ratio for the same period of 6.04. EPS is at $19.07. The stock has a beta of 1.17 and a short ratio of 1.60%. Shares are up 33.17% y/y and 4.32% year-to-date. The search giant has a market cap of $395.86 billion.