XPeng (NYSE:XPEV) Price Target Raised to $27.00

XPeng (NYSE:XPEV) had its price target hoisted by Bank of America from $18.60 to $27.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

XPEV has been the topic of several other reports. Citigroup raised shares of XPeng from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.70 to $29.00 in a research note on Monday, March 10th. Sanford C. Bernstein increased their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research report on Thursday, November 21st. Macquarie reissued a “neutral” rating and issued a $18.00 price objective on shares of XPeng in a research note on Friday, February 7th. Finally, UBS Group upgraded XPeng from a “sell” rating to a “neutral” rating and raised their target price for the company from $8.80 to $18.00 in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.84.

XPeng Price Performance

Shares of XPEV stock opened at $21.81 on Wednesday. The stock’s fifty day simple moving average is $18.29 and its 200 day simple moving average is $14.02. XPeng has a one year low of $6.55 and a one year high of $27.16. The firm has a market cap of $20.54 billion, a price-to-earnings ratio of -25.06 and a beta of 2.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $16.11 billion. On average, analysts expect that XPeng will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

Institutional investors and hedge funds have recently modified their holdings of the business. TMT General Partner Ltd bought a new position in XPeng in the fourth quarter valued at approximately $205,501,000. Alibaba Group Holding Ltd lifted its stake in shares of XPeng by 21.2% in the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock valued at $448,678,000 after purchasing an additional 6,650,000 shares during the period. JPMorgan Chase & Co. grew its stake in shares of XPeng by 1,138.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock worth $54,354,000 after purchasing an additional 4,227,055 shares during the period. Point72 Hong Kong Ltd bought a new stake in XPeng in the third quarter valued at about $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in XPeng by 947.5% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock valued at $20,800,000 after buying an additional 1,591,750 shares during the period. 21.09% of the stock is owned by institutional investors.

XPeng Company Profile

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.