XPeng (NYSE:XPEV) Given New $29.40 Price Target at Citigroup

XPeng (NYSE:XPEV) had its price target raised by Citigroup from $29.00 to $29.40 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the company. Morgan Stanley set a $28.00 target price on XPeng and gave the company an “overweight” rating in a report on Thursday, June 12th. The Goldman Sachs Group raised XPeng from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.40 to $24.00 in a report on Tuesday, June 17th. BNP Paribas Exane began coverage on XPeng in a report on Monday. They issued a “neutral” rating and a $19.00 target price for the company. BNP Paribas assumed coverage on XPeng in a report on Monday. They issued a “neutral” rating for the company. Finally, Sanford C. Bernstein set a $19.00 price objective on XPeng and gave the company a “market perform” rating in a research note on Thursday, May 22nd. 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 issued a Sell rating to the stock. Based on data from MarketBeat, XPeng currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.85.

XPeng Stock Down 1.7%

Shares of NYSE XPEV opened at $20.3840 on Wednesday. XPeng has a 1 year low of $6.75 and a 1 year high of $27.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.21 and a quick ratio of 1.07. The company has a market capitalization of $19.35 billion, a price-to-earnings ratio of -32.36 and a beta of 2.50. The business has a 50-day moving average of $18.80 and a two-hundred day moving average of $19.47.

XPeng (NYSE:XPEV) last posted its earnings results on Wednesday, May 21st. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $1.41. XPeng had a negative return on equity of 13.65% and a negative net margin of 7.14%.The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $15.80 billion. On average, analysts forecast that XPeng will post -0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in XPeng by 70.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company’s stock worth $27,000 after purchasing an additional 532 shares during the period. Atlas Capital Advisors Inc. increased its position in XPeng by 651.0% during the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company’s stock worth $31,000 after purchasing an additional 1,302 shares during the period. Garde Capital Inc. acquired a new position in XPeng during the 1st quarter worth approximately $39,000. Natixis acquired a new position in XPeng during the 4th quarter worth approximately $43,000. Finally, SVB Wealth LLC acquired a new position in XPeng during the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

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.