Brokerages Set XPeng Inc. (NYSE:XPEV) Target Price at $16.89

Shares of XPeng Inc. (NYSE:XPEV) have been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $16.89.

A number of brokerages recently commented on XPEV. Macquarie assumed coverage on XPeng in a research note on Monday, April 15th. They set a “neutral” rating and a $7.00 price objective for the company. Daiwa Capital Markets raised shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, May 23rd. JPMorgan Chase & Co. reduced their target price on shares of XPeng from $19.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, February 23rd. Finally, Daiwa America raised XPeng to a “strong-buy” rating in a report on Thursday, May 23rd.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA lifted its holdings in XPeng by 5.3% in the 4th quarter. Primecap Management Co. CA now owns 12,497,823 shares of the company’s stock valued at $182,343,000 after acquiring an additional 624,926 shares during the last quarter. FMR LLC boosted its holdings in XPeng by 8,035.6% during the third quarter. FMR LLC now owns 5,311,499 shares of the company’s stock worth $97,519,000 after buying an additional 5,246,212 shares in the last quarter. RWC Asset Advisors US LLC boosted its holdings in XPeng by 170.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock worth $64,698,000 after buying an additional 2,793,550 shares in the last quarter. Norges Bank acquired a new position in XPeng in the fourth quarter worth approximately $41,993,000. Finally, UBS Group AG increased its holdings in shares of XPeng by 1,500.6% in the third quarter. UBS Group AG now owns 2,442,935 shares of the company’s stock valued at $44,852,000 after buying an additional 2,290,309 shares in the last quarter. 23.05% of the stock is owned by institutional investors and hedge funds.

XPeng Stock Down 2.5 %

Shares of NYSE:XPEV opened at $8.15 on Friday. The company’s fifty day moving average is $7.98 and its two-hundred day moving average is $10.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.32 and a current ratio of 1.50. XPeng has a 1-year low of $6.55 and a 1-year high of $23.62. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of -5.51 and a beta of 2.80.

XPeng (NYSE:XPEV) last released its quarterly earnings data on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter. XPeng had a negative return on equity of 28.16% and a negative net margin of 28.16%. The business had revenue of $1.84 billion for the quarter. Equities analysts anticipate that XPeng will post -0.96 EPS for the current year.

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.