XPeng (NYSE:XPEV) Price Target Raised to $14.00

XPeng (NYSE:XPEV) had its price objective increased by Sanford C. Bernstein from $9.00 to $14.00 in a report published on Wednesday,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other equities analysts have also weighed in on the stock. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Bank of America dropped their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Citigroup reduced their target price on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and raised their price target for the company from $8.00 to $11.50 in a report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.05.

XPeng Price Performance

Shares of XPeng stock opened at $11.92 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. XPeng has a 52 week low of $6.55 and a 52 week high of $18.74. The stock’s 50-day simple moving average is $11.81 and its 200-day simple moving average is $9.28. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of -13.70 and a beta of 2.80.

XPeng (NYSE:XPEV) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. The business had revenue of $1.12 billion during the quarter. XPeng had a negative return on equity of 16.63% and a negative net margin of 15.35%. As a group, analysts expect that XPeng will post -0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

Several institutional investors have recently modified their holdings of XPEV. Sei Investments Co. lifted its holdings in shares of XPeng by 83.0% in the 1st quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock worth $994,000 after acquiring an additional 58,700 shares during the last quarter. Natixis purchased a new stake in XPeng in the 1st quarter worth about $38,000. Alpine Global Management LLC bought a new stake in XPeng in the first quarter worth about $307,000. Tidal Investments LLC boosted its position in shares of XPeng by 25.2% during the first quarter. Tidal Investments LLC now owns 93,420 shares of the company’s stock valued at $717,000 after buying an additional 18,826 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of XPeng by 100.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after buying an additional 550,000 shares during the last quarter. 23.05% 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.