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

XPeng (NYSE:XPEV) had its price objective upped by investment analysts at Bank of America from $18.60 to $27.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 19.39% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and raised their target price for the stock from $8.80 to $18.00 in a report on Monday, February 24th. Sanford C. Bernstein increased their price objective on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Citigroup raised XPeng from a “neutral” rating to a “buy” rating and increased their price target for the stock from $13.70 to $29.00 in a research note on Monday, March 10th. Macquarie restated a “neutral” rating and set a $18.00 price objective on shares of XPeng in a research note on Friday, February 7th. Finally, The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, XPeng currently has a consensus rating of “Moderate Buy” and an average target price of $17.52.

XPeng Price Performance

Shares of NYSE XPEV opened at $22.62 on Wednesday. The business has a 50 day moving average price of $17.67 and a two-hundred day moving average price of $13.79. XPeng has a fifty-two week low of $6.55 and a fifty-two week high of $27.16. The firm has a market cap of $21.30 billion, a PE ratio of -25.99 and a beta of 2.68. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

XPeng (NYSE:XPEV) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Sell-side analysts expect that XPeng will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after acquiring an additional 898 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after purchasing an additional 2,564 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after purchasing an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of XPeng in the 4th quarter valued at $41,000. Finally, Natixis bought a new stake in XPeng in the fourth quarter worth $43,000. Hedge funds and other 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.