XPeng (NYSE:XPEV) Price Target Raised to $20.00 at Barclays

XPeng (NYSE:XPEV) had its target price boosted by investment analysts at Barclays from $7.00 to $20.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 9.48% from the company’s current price.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. cut their price objective on XPeng from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday. Daiwa Capital Markets reaffirmed a “neutral” rating and issued a $24.00 target price on shares of XPeng in a research note on Wednesday. Nomura Securities raised XPeng to a “strong-buy” rating in a research note on Tuesday. Citigroup raised XPeng from a “neutral” rating to a “buy” rating and upped their target price for the stock from $13.70 to $29.00 in a research note on Monday, March 10th. Finally, Bank of America upped their target price on XPeng from $18.60 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.84.

XPeng Price Performance

Shares of NYSE XPEV traded down $1.71 during midday trading on Thursday, hitting $22.10. 11,432,827 shares of the company’s stock were exchanged, compared to its average volume of 13,322,501. XPeng has a 12-month low of $6.55 and a 12-month high of $27.16. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The company has a market cap of $20.81 billion, a price-to-earnings ratio of -25.36 and a beta of 2.68. The business’s fifty day moving average price is $17.90 and its two-hundred day moving average price is $13.86.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $16.11 billion. As a group, research analysts forecast that XPeng will post -0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On XPeng

Several institutional investors and hedge funds have recently added to or reduced their stakes in XPEV. EverSource Wealth Advisors LLC increased its stake in shares of XPeng by 55.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after acquiring an additional 898 shares in the last quarter. Avior Wealth Management LLC increased its position in XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after buying an additional 2,564 shares in the last quarter. Lindbrook Capital LLC raised its stake in XPeng by 50.7% during the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after buying an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of XPeng during the fourth quarter valued at $41,000. Finally, Natixis bought a new position in XPeng in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 21.09% of the company’s stock.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People's Republic of China. It offers SUVs under the G3, G3i, and G9 names; four-door sports sedans under the P7 and P7i names; and family sedans under the P5 name. The company also provides sales contracts, super charging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.