XPeng (NYSE:XPEV) Given New $27.00 Price Target at Bank of America

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

XPEV has been the topic of several other reports. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a report on Friday, November 22nd. Sanford C. Bernstein raised their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and boosted their price target for the company from $8.80 to $18.00 in a research note on Monday, February 24th. The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a research note on Thursday, November 21st. Finally, Citigroup upgraded shares of XPeng from a “neutral” rating to a “buy” rating and increased their price target for the stock from $13.70 to $29.00 in a research note on Monday, March 10th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.02.

XPeng Stock Up 5.1 %

NYSE:XPEV opened at $23.80 on Wednesday. The business’s fifty day moving average price is $17.90 and its 200 day moving average price is $13.86. The firm has a market capitalization of $22.42 billion, a price-to-earnings ratio of -27.35 and a beta of 2.68. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. XPeng has a 1-year low of $6.55 and a 1-year high of $27.16.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.36) by $1.17. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. On average, sell-side analysts forecast that XPeng will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of XPEV. Advisors Asset Management Inc. increased its holdings in XPeng by 48.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock valued at $604,000 after buying an additional 16,289 shares during the period. Citigroup Inc. increased its stake in XPeng by 14.2% in the third quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock valued at $3,573,000 after acquiring an additional 36,560 shares during the period. FMR LLC raised its position in XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after purchasing an additional 295,536 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in XPeng in the third quarter worth about $360,000. Finally, Point72 Hong Kong Ltd bought a new position in XPeng during the third quarter worth about $22,047,000. 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.