XPeng (NYSE:XPEV) Upgraded by Daiwa Capital Markets to "Buy" Rating
Daiwa Capital Markets upgraded XPeng (NYSE:XPEV) from a "neutral" to a "buy" rating, setting a $29.00 price target, indicating a potential 28.87% upside. Other analysts have mixed ratings, with a consensus of "Moderate Buy" and a target price of $24.70. XPeng's recent earnings beat expectations, and institutional investors have increased their holdings.
XPeng (NYSE:XPEV - Get Free Report) was upgraded by Daiwa Capital Markets from a "neutral" rating to a "buy" rating in a research note issued to investors on Tuesday. The firm currently has a $29.00 target price on the stock. Daiwa Capital Markets' price target would indicate a potential upside of 28.87% from the stock's previous close.
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A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of XPeng in a research report on Wednesday, October 8th. Morgan Stanley reaffirmed an "overweight" rating and set a $34.00 price objective on shares of XPeng in a research report on Tuesday, November 11th. CLSA raised shares of XPeng to a "strong-buy" rating in a report on Monday, September 22nd. BNP Paribas started coverage on shares of XPeng in a research report on Monday, August 18th. They issued a "hold" rating for the company. Finally, BNP Paribas Exane began coverage on shares of XPeng in a report on Monday, August 18th. They issued a "neutral" rating and a $19.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, XPeng presently has an average rating of "Moderate Buy" and a consensus target price of $24.70.
Check Out Our Latest Research Report on XPeng
XPeng Trading Down 10.0%
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NYSE:XPEV opened at $22.50 on Tuesday. The company's 50 day moving average price is $22.63 and its 200-day moving average price is $20.67. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. XPeng has a 52 week low of $11.14 and a 52 week high of $28.24. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of -35.72 and a beta of 2.54.
XPeng (NYSE:XPEV - Get Free Report) last announced its quarterly earnings results on Monday, November 17th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.47) by $0.41. XPeng had a negative return on equity of 13.76% and a negative net margin of 7.14%.The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $20.48 billion. On average, equities research analysts forecast that XPeng will post -0.96 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
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A number of institutional investors and hedge funds have recently modified their holdings of XPEV. Atlas Capital Advisors Inc. raised its stake in XPeng by 651.0% during 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 in the last quarter. SVB Wealth LLC purchased a new position in XPeng in the first quarter worth about $46,000. Bayforest Capital Ltd grew its holdings in XPeng by 145.5% during the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company's stock valued at $47,000 after purchasing an additional 1,353 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in XPeng in the 1st quarter worth about $54,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of XPeng by 16.9% during the third quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company's stock valued at $63,000 after buying an additional 389 shares during the period. 21.09% of the stock is owned by hedge funds and other institutional investors.
About XPeng
(Get Free Report)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.
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