Bank of America Issues Positive Forecast for XPeng (NYSE:XPEV) Stock Price

XPeng (NYSE:XPEV) had its price target increased by Bank of America from $25.00 to $26.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group raised shares of XPeng from a “neutral” rating to a “buy” rating and upped their target price for the company from $16.40 to $24.00 in a report on Tuesday, June 17th. BNP Paribas Exane initiated coverage on XPeng in a research report on Monday. They set a “neutral” rating and a $19.00 price target on the stock. Macquarie raised their price objective on XPeng from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday. Sanford C. Bernstein set a $19.00 target price on XPeng and gave the stock a “market perform” rating in a research note on Thursday, May 22nd. Finally, BNP Paribas assumed coverage on XPeng in a research note on Monday. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, XPeng currently has an average rating of “Moderate Buy” and a consensus target price of $23.82.

XPeng Price Performance

NYSE:XPEV opened at $20.7050 on Tuesday. The stock has a market capitalization of $19.65 billion, a PE ratio of -27.61 and a beta of 2.50. XPeng has a 1-year low of $6.65 and a 1-year high of $27.16. The firm has a fifty day simple moving average of $18.80 and a 200 day simple moving average of $19.46. The company has a current ratio of 1.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.34.

XPeng (NYSE:XPEV) last announced its quarterly earnings results on Wednesday, May 21st. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.51) by $1.41. XPeng had a negative net margin of 10.20% and a negative return on equity of 15.89%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $15.80 billion. On average, research analysts expect that XPeng will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Alibaba Group Holding Ltd lifted its holdings in shares of XPeng by 21.2% during the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock worth $448,678,000 after buying an additional 6,650,000 shares in the last quarter. TMT General Partner Ltd increased its position in XPeng by 88.2% during the first quarter. TMT General Partner Ltd now owns 32,726,800 shares of the company’s stock worth $678,099,000 after acquiring an additional 15,340,907 shares during the period. BNP Paribas Financial Markets raised its stake in XPeng by 567.4% in the 1st quarter. BNP Paribas Financial Markets now owns 5,306,883 shares of the company’s stock worth $109,959,000 after purchasing an additional 4,511,751 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in XPeng by 947.5% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock valued at $20,800,000 after purchasing an additional 1,591,750 shares during the period. Finally, Marshall Wace LLP grew its position in shares of XPeng by 228.7% during the 2nd quarter. Marshall Wace LLP now owns 1,639,403 shares of the company’s stock worth $29,313,000 after purchasing an additional 1,140,593 shares in the last quarter. 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.