Tesla Motors Inc (TSLA)’s Stock Price “Kind of High Right Now” Admits Elon Musk

Tesla Motors Inc (NASDAQ:TSLA)’s stock is flying high right now, entering the day at $286.04, with a market cap of just over $35 billion. In fact, the stock is flying so high that founder and CEO Elon Musk admitted to CNBC’s Behind the Wheel last night, that the stock price is a little bit high in his estimation.

Tesla Earnings Call Transcript 2014 Q1

“I do think people sometimes get carried away with our stock, honestly. Cause I think our stock price is kind of high right now to be totally honest. Or rather, let me put it this way; if you care about the long term of Tesla, I think the stock is a good price. If you look about the short term, it’s less clear,” Musk said.

As CNBC’s Phil LeBeau added, Musk further told him that he expects Tesla Motors Inc (NASDAQ:TSLA) to actually exceed long term expectations, meaning he likely sees the stock as undervalued for anyone who is taking a very long term outlook and position on it.

Several analysts already agree, most recently Stifel Nicolaus, which dropped a $400 price target on the stock at the beginning of the week, citing weak competition, impressive production upgrades that Tesla’s manufacturing plant has achieved in a short time, as well as the sheer momentum of the stock. Several other analysts have recently come out with strong price targets of over $300 on Tesla Motors Inc (NASDAQ:TSLA) as well, including Pacific Crest Securities ($316) and Deutsche Bank ($310).

Musk certainly isn’t complaining about the kind of high, and likely to go kind of higher valuations. The monumental rise of Tesla Motors Inc (NASDAQ:TSLA)’s stock has sent his personal fortune soaring over the $13 billion mark, ranking him within the top 100 on a list of the world’s richest people, according to Bloomberg.

Tesla Motors Inc (NASDAQ:TSLA)’s stock has taken a big hit in early morning trading, falling 2.69% or over $7.50 shortly after the morning bell today.

Disclosure: none

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!