Brokerages Set XPeng Inc. (NYSE:XPEV) Target Price at $22.20

Shares of XPeng Inc. (NYSE:XPEV) have been given a consensus rating of “Hold” by the thirteen research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $22.20.

Several research firms have issued reports on XPEV. JPMorgan Chase & Co. cut their price target on shares of XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, March 19th. Citigroup upgraded 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. Daiwa Capital Markets reiterated a “neutral” rating and issued a $24.00 price target on shares of XPeng in a research note on Wednesday, March 19th. Bank of America boosted their price target on XPeng from $18.60 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, March 19th. Finally, Nomura raised shares of XPeng from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $30.00 in a research report on Wednesday, March 19th.

XPeng Price Performance

Shares of XPEV stock opened at $21.14 on Friday. The stock’s 50-day moving average is $19.43 and its 200 day moving average is $14.73. XPeng has a 1-year low of $6.55 and a 1-year high of $27.16. 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 company has a market cap of $19.91 billion, a P/E ratio of -24.30 and a beta of 2.68.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate 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 analyst estimates of $16.11 billion. Research analysts predict that XPeng will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of XPeng

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in XPeng during the fourth quarter valued at $70,000. Vise Technologies Inc. purchased a new position in shares of XPeng during the 4th quarter valued at about $142,000. Vident Advisory LLC raised its stake in shares of XPeng by 7.6% during the 4th quarter. Vident Advisory LLC now owns 53,632 shares of the company’s stock valued at $634,000 after buying an additional 3,810 shares during the last quarter. Twinbeech Capital LP lifted its holdings in shares of XPeng by 22.4% in the 4th quarter. Twinbeech Capital LP now owns 407,097 shares of the company’s stock valued at $4,812,000 after buying an additional 74,574 shares during the period. Finally, Polar Capital Holdings Plc purchased a new stake in shares of XPeng in the fourth quarter worth about $6,596,000. 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.