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 note issued to investors on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Macquarie reissued a “neutral” rating and set a $18.00 target price on shares of XPeng in a research note on Friday, February 7th. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a research report on Friday, November 22nd. Sanford C. Bernstein boosted their price objective on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a report on Thursday, November 21st. Finally, UBS Group raised XPeng from a “sell” rating to a “neutral” rating and lifted their price target for the company from $8.80 to $18.00 in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.84.

XPeng Price Performance

Shares of XPEV stock opened at $21.81 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. XPeng has a 12-month low of $6.55 and a 12-month high of $27.16. The firm has a fifty day moving average of $18.29 and a 200-day moving average of $14.02. The firm has a market capitalization of $20.54 billion, a price-to-earnings ratio of -25.06 and a beta of 2.68.

XPeng (NYSE:XPEV) last posted its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. On average, equities research analysts forecast that XPeng will post -0.96 earnings per share for the current year.

Institutional Trading of XPeng

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its stake in XPeng by 48.9% in the third quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock valued at $604,000 after purchasing an additional 16,289 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of XPeng by 14.2% in the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock valued at $3,573,000 after buying an additional 36,560 shares during the last quarter. FMR LLC boosted its holdings in shares of XPeng by 1,053.8% in the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock valued at $3,941,000 after buying an additional 295,536 shares during the last quarter. Flow Traders U.S. LLC bought a new position in shares of XPeng in the third quarter valued at $360,000. Finally, Point72 Hong Kong Ltd acquired a new position in XPeng during the third quarter worth $22,047,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

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.