XPeng (NYSE:XPEV) Rating Increased to Buy at Daiwa Capital Markets

Daiwa Capital Markets upgraded shares of XPeng (NYSE:XPEV) from a neutral rating to a buy rating in a research report report published on Tuesday, Marketbeat.com reports. The firm currently has $29.00 price objective on the stock.

A number of other research analysts also recently weighed in on XPEV. BNP Paribas Exane started coverage on XPeng in a research note on Monday, August 18th. They issued a “neutral” rating and a $19.00 price target for the company. BNP Paribas began coverage on XPeng in a report on Monday, August 18th. They issued a “hold” rating for the company. Morgan Stanley reissued an “overweight” rating and issued a $34.00 target price on shares of XPeng in a research note on Tuesday, November 11th. Macquarie upped their price target on shares of XPeng from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Finally, Bank of America increased their price target on shares of XPeng from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, XPeng currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.70.

XPeng Stock Up 1.0%

Shares of XPEV stock opened at $22.66 on Tuesday. The firm’s fifty day moving average price is $22.67 and its two-hundred day moving average price is $20.69. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. XPeng has a 1 year low of $11.14 and a 1 year high of $28.24. The firm has a market capitalization of $21.50 billion, a P/E ratio of -53.94 and a beta of 2.54.

XPeng (NYSE:XPEV) last posted its quarterly earnings data on Monday, November 17th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.41. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $20.48 billion. XPeng had a negative net margin of 4.02% and a negative return on equity of 9.22%. On average, equities analysts predict that XPeng will post -0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On XPeng

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XPEV. Atlas Capital Advisors Inc. increased its holdings in shares of XPeng by 651.0% in the first quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company’s stock valued at $31,000 after purchasing an additional 1,302 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of XPeng during the 1st quarter worth about $46,000. Bayforest Capital Ltd grew its stake in XPeng by 145.5% in the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company’s stock valued at $47,000 after buying an additional 1,353 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in XPeng in the 1st quarter valued at about $54,000. Finally, EverSource Wealth Advisors LLC lifted its position in XPeng by 16.9% during the third quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company’s stock worth $63,000 after acquiring an additional 389 shares during the last quarter. 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.