Barclays Forecasts Strong Price Appreciation for XPeng (NYSE:XPEV) Stock

XPeng (NYSE:XPEV) had its price target raised by Barclays from $7.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price target indicates a potential downside of 8.28% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. UBS Group upgraded shares of XPeng from a “sell” rating to a “neutral” rating and upped their price target for the company from $8.80 to $18.00 in a report on Monday, February 24th. Citigroup upgraded XPeng from a “neutral” rating to a “buy” rating and increased their target price for the stock from $13.70 to $29.00 in a report on Monday, March 10th. Sanford C. Bernstein boosted their price target on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. dropped their target price on XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.84.

XPeng Stock Down 1.2 %

Shares of NYSE:XPEV opened at $21.81 on Thursday. 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 52 week low of $6.55 and a 52 week high of $27.16. The company has a 50 day moving average price of $18.29 and a two-hundred day moving average price of $14.02. The company has a market capitalization of $20.54 billion, a PE ratio of -25.06 and a beta of 2.68.

XPeng (NYSE:XPEV) last announced its quarterly 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 return on equity of 16.92% and a negative net margin of 15.35%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $16.11 billion. Analysts forecast that XPeng will post -0.96 earnings per share for the current year.

Hedge Funds Weigh In On XPeng

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock valued at $30,000 after acquiring an additional 898 shares during the last quarter. Avior Wealth Management LLC lifted its stake in XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after purchasing an additional 2,564 shares during the last quarter. Lindbrook Capital LLC grew its holdings in XPeng by 50.7% during the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after purchasing an additional 1,138 shares during the period. Golden State Wealth Management LLC acquired a new position in XPeng during the fourth quarter worth approximately $41,000. Finally, Natixis acquired a new position in XPeng during the fourth quarter worth approximately $43,000. 21.09% of the stock is owned by 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.