XPeng (NYSE:XPEV) Raised to “Buy” at Nomura

XPeng (NYSE:XPEV) was upgraded by Nomura from a “neutral” rating to a “buy” rating in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $30.00 price target on the stock, up from their previous price target of $14.00. Nomura’s price target would indicate a potential upside of 35.96% from the company’s current price.

Several other equities analysts have also recently commented on XPEV. Bank of America raised their target price on shares of XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group upgraded shares of XPeng from a “sell” rating to a “neutral” rating and raised their target price for the stock 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 stock a “market perform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a report on Thursday, November 21st. Finally, China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.84.

XPeng Trading Down 7.3 %

XPeng stock opened at $22.07 on Wednesday. The firm’s 50-day moving average is $18.10 and its 200-day moving average is $13.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. XPeng has a 1 year low of $6.55 and a 1 year high of $27.16. The company has a market cap of $20.79 billion, a P/E ratio of -25.36 and a beta of 2.68.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($1.36) by $1.17. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $16.11 billion. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. On average, equities analysts expect that XPeng will post -0.96 earnings per share for the current year.

Hedge Funds Weigh In On XPeng

Institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. increased its position in XPeng by 48.9% during the third quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock worth $604,000 after acquiring an additional 16,289 shares during the period. Citigroup Inc. boosted its stake 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 purchasing an additional 36,560 shares in the last quarter. FMR LLC boosted its stake 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 purchasing an additional 295,536 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in XPeng during the 3rd quarter worth about $360,000. Finally, Point72 Hong Kong Ltd acquired a new position in XPeng during the 3rd quarter worth about $22,047,000. Institutional investors 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.