XPeng (NYSE:XPEV) Given New $27.00 Price Target at Bank of America

XPeng (NYSE:XPEV) had its price objective boosted by Bank of America from $18.60 to $27.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also commented on the company. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and raised their price target for the company from $8.80 to $18.00 in a report on Monday, February 24th. Sanford C. Bernstein raised their target price on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a research report on Friday, November 22nd. Macquarie reiterated a “neutral” rating and issued a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. Finally, The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a report on Thursday, November 21st. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.02.

XPeng Trading Up 5.1 %

XPeng stock opened at $23.80 on Wednesday. The firm has a 50-day moving average price of $17.90 and a two-hundred day moving average price of $13.86. XPeng has a 52-week low of $6.55 and a 52-week high of $27.16. The firm has a market capitalization of $22.42 billion, a price-to-earnings ratio of -27.35 and a beta of 2.68. 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 (NYSE:XPEV) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) 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 business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $16.11 billion. Sell-side analysts expect that XPeng will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. TMT General Partner Ltd acquired a new position in shares of XPeng in the 4th quarter worth $205,501,000. Alibaba Group Holding Ltd boosted its position 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 during the period. JPMorgan Chase & Co. increased its stake in XPeng by 1,138.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock worth $54,354,000 after purchasing an additional 4,227,055 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in XPeng during the 3rd quarter worth about $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in XPeng by 947.5% during the 4th 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 buying an additional 1,591,750 shares during the period. Institutional investors 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.