Bank of America Forecasts Strong Price Appreciation for XPeng (NYSE:XPEV) Stock

XPeng (NYSE:XPEV) had its price objective upped by equities researchers at Bank of America from $18.60 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 22.37% from the stock’s current price.

A number of other equities research analysts also recently commented on XPEV. UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and increased their price objective for the company from $8.80 to $18.00 in a research report on Monday, February 24th. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a research note on Friday, November 22nd. Citigroup upgraded shares of XPeng from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.70 to $29.00 in a research note on Monday, March 10th. Sanford C. Bernstein increased their price target on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.84.

XPeng Price Performance

Shares of XPEV stock opened at $22.07 on Wednesday. The firm’s 50-day moving average is $18.10 and its two-hundred day moving average is $13.92. The company has a market capitalization of $20.79 billion, a PE ratio of -25.36 and a beta of 2.68. XPeng has a 12 month low of $6.55 and a 12 month high of $27.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

XPeng (NYSE:XPEV) last announced its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $16.11 billion. Analysts predict that XPeng will post -0.96 earnings per share for the current year.

Institutional Trading of XPeng

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