XPeng (NYSE:XPEV) Given New $31.00 Price Target at JPMorgan Chase & Co.

XPeng (NYSE:XPEV) had its price objective reduced by JPMorgan Chase & Co. from $35.00 to $31.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also commented on the company. Macquarie reissued a “neutral” rating and issued a $18.00 target price on shares of XPeng in a report on Friday, February 7th. Nomura raised XPeng from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $30.00 in a research report on Wednesday. Daiwa Capital Markets reaffirmed a “neutral” rating and set a $24.00 price target on shares of XPeng in a report on Wednesday. Citigroup raised shares of XPeng from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.70 to $29.00 in a report on Monday, March 10th. Finally, Bank of America raised their target price on shares of XPeng from $18.60 to $27.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.02.

XPeng Price Performance

XPEV opened at $23.80 on Wednesday. The firm has a market cap of $22.42 billion, a PE ratio of -27.35 and a beta of 2.68. The stock has a 50-day moving average price of $17.90 and a 200-day moving average price of $13.86. 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.

XPeng (NYSE:XPEV) last issued its earnings results 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 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 analysts’ expectations of $16.11 billion. Sell-side analysts predict that XPeng will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

A number of hedge funds have recently modified their holdings of XPEV. Advisors Asset Management Inc. grew its holdings in XPeng by 48.9% during 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 during the period. Citigroup Inc. lifted its position in shares of XPeng by 14.2% during 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 in the last quarter. FMR LLC grew its stake in shares of XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock valued at $3,941,000 after acquiring an additional 295,536 shares during the period. Flow Traders U.S. LLC purchased a new stake in XPeng in the 3rd quarter worth approximately $360,000. Finally, Point72 Hong Kong Ltd purchased a new stake in XPeng in the 3rd quarter worth approximately $22,047,000. 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.