Brokerages Set XPeng Inc. (NYSE:XPEV) Target Price at $9.42

XPeng Inc. (NYSE:XPEV) has earned an average recommendation of “Buy” from the six research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $9.42.

Several analysts have recently issued reports on XPEV shares. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Citigroup decreased their price objective on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. Bank of America dropped their target price on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and increased their price target for the company from $8.00 to $11.50 in a report on Thursday, September 5th.

XPeng Stock Performance

NYSE:XPEV opened at $11.52 on Wednesday. The company has a market cap of $10.85 billion, a price-to-earnings ratio of -9.44 and a beta of 2.79. XPeng has a 1 year low of $6.55 and a 1 year high of $18.74. The stock’s 50 day simple moving average is $10.39 and its two-hundred day simple moving average is $8.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31.

XPeng (NYSE:XPEV) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. The business had revenue of $1.12 billion during the quarter. As a group, equities analysts anticipate that XPeng will post -0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

A number of large investors have recently bought and sold shares of XPEV. Natixis purchased a new stake in XPeng in the first quarter worth $38,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of XPeng by 122.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after purchasing an additional 2,920 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in XPeng in the 3rd quarter worth about $45,000. Blue Trust Inc. lifted its holdings in XPeng by 2,615.9% during the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after buying an additional 9,391 shares in the last quarter. Finally, 180 Wealth Advisors LLC purchased a new stake in XPeng in the 2nd quarter valued at about $78,000. Hedge funds and other institutional investors own 23.05% 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.