XPeng (NYSE:XPEV) Upgraded to “Buy” at Nomura

Nomura upgraded shares of XPeng (NYSE:XPEV) from a neutral rating to a buy rating in a report released on Wednesday morning, Marketbeat reports. The firm currently has $30.00 price objective on the stock, up from their previous price objective of $14.00.

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

XPeng Stock Performance

XPEV opened at $23.80 on Wednesday. The stock has a market cap of $22.42 billion, a P/E ratio of -27.35 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. The firm has a fifty day moving average price of $17.90 and a 200 day moving average price of $13.86. XPeng has a 1 year low of $6.55 and a 1 year high of $27.16.

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

Institutional Investors Weigh In On XPeng

A number of hedge funds have recently bought and sold shares of XPEV. TMT General Partner Ltd purchased a new position in XPeng in the fourth quarter worth approximately $205,501,000. Alibaba Group Holding Ltd raised its holdings 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of XPeng by 1,138.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock valued at $54,354,000 after purchasing an additional 4,227,055 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of XPeng during the 3rd quarter worth $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of XPeng by 947.5% during 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 worth $20,800,000 after purchasing an additional 1,591,750 shares in the last quarter. Institutional investors and hedge funds 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.