XPeng Inc. (NYSE:XPEV) Receives $9.42 Consensus Target Price from Brokerages

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

XPEV has been the subject of a number of research reports. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Citigroup lowered their target price on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Finally, Bank of America lowered their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st.

XPeng Trading Up 2.6 %

XPeng stock opened at $11.52 on Wednesday. XPeng has a one year low of $6.55 and a one year high of $18.74. The business’s fifty day moving average is $10.39 and its 200 day moving average is $8.73. The stock has a market capitalization of $10.85 billion, a PE ratio of -9.44 and a beta of 2.79. 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 (EPS) for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The company had revenue of $1.12 billion for the quarter. On average, sell-side analysts predict that XPeng will post -0.96 EPS for the current year.

Institutional Investors Weigh In On XPeng

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Natixis purchased a new stake in XPeng in the 1st quarter worth $38,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in XPeng by 122.4% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after purchasing an additional 2,920 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in XPeng during the 3rd quarter valued at approximately $45,000. Blue Trust Inc. lifted its holdings in XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after purchasing an additional 9,391 shares in the last quarter. Finally, 180 Wealth Advisors LLC bought a new position in XPeng in the 2nd quarter worth approximately $78,000. 23.05% of the stock is owned by hedge funds and other institutional investors.

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.