Brokerages Set XPeng Inc. (NYSE:XPEV) Price Target at $9.42

XPeng Inc. (NYSE:XPEV) has been given an average rating of “Buy” by the six research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $9.42.

XPEV has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. Citigroup reduced their target price on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. Bank of America reduced their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th.

Institutional Investors Weigh In On XPeng

A number of hedge funds and other institutional investors have recently modified their holdings of XPEV. Bank of Montreal Can raised its holdings in shares of XPeng by 212.1% in the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after purchasing an additional 2,724,549 shares in the last quarter. Primecap Management Co. CA raised its stake in XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock worth $120,369,000 after acquiring an additional 872,160 shares in the last quarter. Point72 Europe London LLP acquired a new stake in XPeng during the 2nd quarter worth $5,923,000. Russell Investments Group Ltd. raised its stake in XPeng by 73.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock worth $10,872,000 after acquiring an additional 600,437 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in XPeng by 100.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock worth $8,864,000 after acquiring an additional 550,000 shares in the last quarter. 23.05% of the stock is currently owned by institutional investors and hedge funds.

XPeng Stock Performance

NYSE:XPEV opened at $11.52 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The stock has a market capitalization of $10.85 billion, a P/E ratio of -9.44 and a beta of 2.80. The company has a 50 day moving average price of $10.39 and a 200 day moving average price of $8.75. XPeng has a fifty-two week low of $6.55 and a fifty-two week high of $18.74.

XPeng (NYSE:XPEV) last released its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The business had revenue of $1.12 billion for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. Equities research analysts forecast that XPeng will post -0.96 EPS for the current year.

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.